Albemarle (NYSE:ALB) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.00-5.40 for the period, compared to the Thomson Reuters consensus estimate of $5.14. The company issued revenue guidance of $3.2-3.4 billion, compared to the consensus revenue estimate of $3.23 billion.
Shares of Albemarle (ALB) traded down $2.46 during mid-day trading on Wednesday, hitting $100.33. The company’s stock had a trading volume of 1,963,494 shares, compared to its average volume of 2,564,634. The stock has a market capitalization of $11,190.00, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59. Albemarle has a 12 month low of $90.49 and a 12 month high of $144.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.57 and a current ratio of 2.06.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.13. Albemarle had a return on equity of 13.27% and a net margin of 1.79%. The company had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. research analysts forecast that Albemarle will post 5.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.335 per share. This is an increase from Albemarle’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 14th. This represents a $1.34 annualized dividend and a dividend yield of 1.34%. Albemarle’s dividend payout ratio is 30.12%.
ALB has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a buy rating and a $150.00 price objective for the company. UBS Group upgraded shares of Albemarle from a neutral rating to a buy rating and raised their price objective for the company from $113.00 to $150.00 in a research report on Tuesday, January 30th. Jefferies Group raised their price objective on shares of Albemarle from $156.00 to $162.00 and gave the company a buy rating in a research report on Tuesday, November 14th. Berenberg Bank initiated coverage on shares of Albemarle in a research report on Tuesday, February 27th. They issued a buy rating and a $150.00 price objective for the company. Finally, Oppenheimer restated a buy rating on shares of Albemarle in a research report on Wednesday, January 17th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $128.07.
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Albemarle Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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