Albemarle Co. (NYSE:ALB) Expected to Post Earnings of $0.78 Per Share

Brokerages expect Albemarle Co. (NYSE:ALB) to report $0.78 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Albemarle’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.90. Albemarle posted earnings of $1.53 per share during the same quarter last year, which indicates a negative year over year growth rate of 49%. The firm is scheduled to report its next earnings report on Wednesday, November 4th.

On average, analysts expect that Albemarle will report full-year earnings of $3.49 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.64. For the next year, analysts anticipate that the company will report earnings of $4.09 per share, with EPS estimates ranging from $3.10 to $4.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Albemarle.

Albemarle (NYSE:ALB) last posted its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. Albemarle had a net margin of 12.99% and a return on equity of 13.33%.

A number of equities analysts have recently commented on ALB shares. KeyCorp lowered shares of Albemarle from a “sector weight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a report on Monday, June 22nd. Deutsche Bank lifted their price target on shares of Albemarle from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Investment Research upgraded shares of Albemarle from a “sell” rating to a “hold” rating and set a $102.00 price target on the stock in a report on Wednesday, September 2nd. Jefferies Financial Group boosted their target price on shares of Albemarle from $81.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Royal Bank of Canada boosted their target price on shares of Albemarle from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Albemarle currently has an average rating of “Hold” and a consensus price target of $78.91.

In other news, Director Luther C. Iv Kissam sold 150,001 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $90.71, for a total value of $13,606,590.71. Following the transaction, the director now owns 225,812 shares in the company, valued at $20,483,406.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luther C. Iv Kissam sold 59,000 shares of Albemarle stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $100.03, for a total value of $5,901,770.00. Following the transaction, the director now directly owns 243,065 shares in the company, valued at approximately $24,313,791.95. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of ALB. FMR LLC boosted its holdings in Albemarle by 30.1% during the 2nd quarter. FMR LLC now owns 2,721,995 shares of the specialty chemicals company’s stock worth $210,165,000 after acquiring an additional 629,677 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Albemarle by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,582,617 shares of the specialty chemicals company’s stock worth $145,584,000 after purchasing an additional 120,444 shares during the last quarter. Geode Capital Management LLC boosted its position in Albemarle by 6.2% in the first quarter. Geode Capital Management LLC now owns 1,785,289 shares of the specialty chemicals company’s stock worth $100,455,000 after purchasing an additional 104,863 shares during the last quarter. ProShare Advisors LLC boosted its position in Albemarle by 2.3% in the second quarter. ProShare Advisors LLC now owns 1,312,848 shares of the specialty chemicals company’s stock worth $101,365,000 after purchasing an additional 29,422 shares during the last quarter. Finally, SPF Beheer BV boosted its position in Albemarle by 12.6% in the first quarter. SPF Beheer BV now owns 1,248,607 shares of the specialty chemicals company’s stock worth $70,810,000 after purchasing an additional 139,307 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Shares of NYSE:ALB traded down $0.59 during mid-day trading on Wednesday, reaching $97.80. 929,862 shares of the company’s stock were exchanged, compared to its average volume of 1,571,709. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.51 and a beta of 1.41. The business’s fifty day moving average price is $90.70 and its 200-day moving average price is $75.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.61. Albemarle has a twelve month low of $48.89 and a twelve month high of $100.31.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 18th will be issued a dividend of $0.385 per share. The ex-dividend date is Thursday, September 17th. This represents a $1.54 annualized dividend and a dividend yield of 1.57%. Albemarle’s dividend payout ratio is currently 25.50%.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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