$1.20 EPS Expected for Albemarle Co. (ALB) This Quarter

Wall Street brokerages forecast that Albemarle Co. (NYSE:ALB) will post earnings per share of $1.20 for the current quarter, Zacks reports. Four analysts have issued estimates for Albemarle’s earnings, with estimates ranging from $1.15 to $1.31. Albemarle posted earnings of $1.05 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, May 9th.

According to Zacks, analysts expect that Albemarle will report full year earnings of $5.15 per share for the current fiscal year, with EPS estimates ranging from $5.02 to $5.40. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.82 per share, with EPS estimates ranging from $5.25 to $6.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Albemarle.

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

A number of brokerages recently issued reports on ALB. Zacks Investment Research downgraded Albemarle from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Loop Capital set a $150.00 price objective on Albemarle and gave the company a “buy” rating in a report on Tuesday, December 19th. Robert W. Baird raised Albemarle from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $131.72 to $133.51 in a report on Monday, January 8th. Oppenheimer reissued a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Morgan Stanley downgraded Albemarle from an “equal weight” rating to an “underweight” rating and set a $85.00 price objective for the company. in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $126.98.

Shares of ALB opened at $96.63 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.06 and a quick ratio of 1.57. The company has a market capitalization of $10,717.54, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.66. Albemarle has a 52-week low of $86.75 and a 52-week high of $144.99.

The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, March 14th. This is a boost from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio is 29.19%.

Several institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its stake in shares of Albemarle by 6.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,431 shares of the specialty chemicals company’s stock worth $822,000 after purchasing an additional 411 shares during the last quarter. Norinchukin Bank The raised its stake in shares of Albemarle by 7.5% during the fourth quarter. Norinchukin Bank The now owns 8,835 shares of the specialty chemicals company’s stock worth $1,130,000 after purchasing an additional 613 shares during the last quarter. Belpointe Asset Management LLC raised its position in Albemarle by 13.4% in the fourth quarter. Belpointe Asset Management LLC now owns 5,415 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 640 shares in the last quarter. Eagle Boston Investment Management Inc. raised its position in Albemarle by 4.8% in the fourth quarter. Eagle Boston Investment Management Inc. now owns 14,065 shares of the specialty chemicals company’s stock worth $1,798,000 after acquiring an additional 643 shares in the last quarter. Finally, Parkside Investments LLC raised its position in Albemarle by 38.9% in the fourth quarter. Parkside Investments LLC now owns 2,500 shares of the specialty chemicals company’s stock worth $320,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

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About Albemarle

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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