Albemarle Co. Expected to Earn FY2020 Earnings of $7.05 Per Share (ALB)

Albemarle Co. (NYSE:ALB) – Equities researchers at Jefferies Group issued their FY2020 earnings per share (EPS) estimates for Albemarle in a research report issued on Tuesday. Jefferies Group analyst L. Alexander anticipates that the specialty chemicals company will post earnings per share of $7.05 for the year. Jefferies Group currently has a “Buy” rating and a $120.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird reissued an “outperform” rating and set a $125.00 price target on shares of Albemarle in a research report on Sunday, April 9th. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Tuesday, April 4th. Royal Bank of Canada reissued a “buy” rating and set a $132.00 price target on shares of Albemarle in a research report on Tuesday. Citigroup Inc cut shares of Albemarle from a “buy” rating to a “neutral” rating and boosted their price target for the company from $104.77 to $112.00 in a research report on Monday, March 6th. They noted that the move was a valuation call. Finally, Aegis assumed coverage on shares of Albemarle in a research report on Friday, February 17th. They set a “buy” rating and a $108.00 price target on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $111.00.

Earnings History and Estimates for Albemarle (NYSE:ALB)

WARNING: This news story was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://sportsperspectives.com/2017/04/21/albemarle-co-expected-to-earn-fy2020-earnings-of-7-05-per-share-alb.html.

Shares of Albemarle (NYSE:ALB) traded down 0.40% during trading on Friday, hitting $105.10. 1,171,079 shares of the company were exchanged. The firm’s 50-day moving average price is $104.69 and its 200 day moving average price is $92.26. The firm has a market capitalization of $11.83 billion, a PE ratio of 18.49 and a beta of 1.41. Albemarle has a 12 month low of $65.57 and a 12 month high of $107.56.

Albemarle (NYSE:ALB) last issued its earnings results on Monday, February 27th. The specialty chemicals company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Albemarle had a net margin of 6.92% and a return on equity of 14.38%. The firm earned $696.70 million during the quarter, compared to analyst estimates of $642.68 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. Albemarle’s revenue for the quarter was down 3.6% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.21%. This is a boost from Albemarle’s previous quarterly dividend of $0.31. Albemarle’s dividend payout ratio is presently 63.54%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its position in Albemarle by 0.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,443 shares of the specialty chemicals company’s stock worth $123,000 after buying an additional 5 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Albemarle by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,448 shares of the specialty chemicals company’s stock worth $555,000 after buying an additional 28 shares during the last quarter. CIBC Asset Management Inc boosted its position in Albemarle by 0.6% in the third quarter. CIBC Asset Management Inc now owns 13,050 shares of the specialty chemicals company’s stock worth $1,116,000 after buying an additional 79 shares during the last quarter. Profund Advisors LLC boosted its position in Albemarle by 0.7% in the third quarter. Profund Advisors LLC now owns 12,856 shares of the specialty chemicals company’s stock worth $1,099,000 after buying an additional 87 shares during the last quarter. Finally, BKD Wealth Advisors LLC boosted its position in Albemarle by 3.9% in the first quarter. BKD Wealth Advisors LLC now owns 2,463 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 93 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:ALB

Receive News & Ratings for Albemarle Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply