Analysts Anticipate Albemarle Co. (ALB) to Announce $1.20 EPS

Equities analysts expect that Albemarle Co. (NYSE:ALB) will announce earnings per share of $1.20 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Albemarle’s earnings, with the highest EPS estimate coming in at $1.31 and the lowest estimate coming in at $1.15. Albemarle posted earnings per share of $1.05 in the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, May 9th.

On average, analysts expect that Albemarle will report full year earnings of $5.15 per share for the current year, with EPS estimates ranging from $5.02 to $5.40. For the next year, analysts anticipate that the business will post earnings of $5.82 per share, with EPS estimates ranging from $5.25 to $6.35. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Albemarle.

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Albemarle (NYSE:ALB) last issued its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.13. The firm had revenue of $857.79 million for the quarter, compared to analysts’ expectations of $791.46 million. Albemarle had a return on equity of 13.27% and a net margin of 1.79%.

A number of equities analysts recently weighed in on the company. Citigroup raised Albemarle from a “neutral” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Friday. KeyCorp dropped their price target on Albemarle from $148.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday. Argus dropped their price target on Albemarle from $148.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, March 27th. Seaport Global Securities reaffirmed a “buy” rating on shares of Albemarle in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada lowered their target price on Albemarle from $133.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Albemarle currently has a consensus rating of “Buy” and a consensus target price of $126.39.

ALB traded up $2.11 during trading on Friday, reaching $95.50. The company had a trading volume of 1,999,271 shares, compared to its average volume of 1,835,825. The stock has a market capitalization of $10,332.52, a P/E ratio of 20.81, a P/E/G ratio of 1.12 and a beta of 1.66. Albemarle has a 12-month low of $86.75 and a 12-month high of $144.99. The company has a current ratio of 2.06, a quick ratio of 1.57 and a debt-to-equity ratio of 0.37.

The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.40%. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 14th. Albemarle’s payout ratio is currently 29.19%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Albemarle by 0.9% during the 4th quarter. BlackRock Inc. now owns 8,061,848 shares of the specialty chemicals company’s stock valued at $1,031,029,000 after buying an additional 69,181 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Albemarle by 1.0% during the 4th quarter. Jennison Associates LLC now owns 7,876,682 shares of the specialty chemicals company’s stock valued at $1,007,349,000 after buying an additional 79,606 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Albemarle by 497.9% during the 4th quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock valued at $192,725,000 after buying an additional 1,254,927 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Albemarle by 7.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,404,515 shares of the specialty chemicals company’s stock valued at $179,623,000 after buying an additional 96,611 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Albemarle by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,181,074 shares of the specialty chemicals company’s stock valued at $150,737,000 after buying an additional 40,792 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

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Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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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