$1.31 Earnings Per Share Expected for Albemarle Co. (ALB) This Quarter

Brokerages expect Albemarle Co. (NYSE:ALB) to report $1.31 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Albemarle’s earnings, with the highest EPS estimate coming in at $1.41 and the lowest estimate coming in at $1.20. Albemarle posted earnings per share of $1.30 in the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The company is expected to issue its next earnings report on Wednesday, May 8th.

On average, analysts expect that Albemarle will report full year earnings of $6.22 per share for the current fiscal year, with EPS estimates ranging from $6.14 to $6.40. For the next fiscal year, analysts forecast that the business will post earnings of $6.74 per share, with EPS estimates ranging from $4.66 to $7.52. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Albemarle.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.07. Albemarle had a return on equity of 15.82% and a net margin of 20.55%. The business had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $894.45 million. During the same quarter in the previous year, the business posted $1.34 EPS. Albemarle’s revenue for the quarter was up 7.4% on a year-over-year basis.

A number of research analysts have weighed in on the stock. Vertical Group cut their price objective on shares of Albemarle from $86.00 to $59.00 in a report on Tuesday, January 15th. Zacks Investment Research raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Thursday, December 20th. HSBC raised shares of Albemarle from a “hold” rating to a “buy” rating and set a $112.50 price objective for the company in a report on Monday, December 10th. Loop Capital cut their price objective on shares of Albemarle to $112.00 and set a “buy” rating for the company in a report on Friday, January 18th. They noted that the move was a valuation call. Finally, reaffirmed a “buy” rating and issued a $157.00 price objective on shares of Albemarle in a report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $101.48.

ALB stock traded up $1.19 during trading on Wednesday, hitting $84.09. 99,754 shares of the company’s stock traded hands, compared to its average volume of 1,101,675. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.90 and a beta of 1.64. The company has a quick ratio of 1.10, a current ratio of 1.69 and a debt-to-equity ratio of 0.37. Albemarle has a 1 year low of $71.89 and a 1 year high of $108.74.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.3675 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.34. This represents a $1.47 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, March 14th. Albemarle’s dividend payout ratio is currently 26.82%.

In related news, EVP Karen G. Narwold sold 1,295 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $74.76, for a total transaction of $96,814.20. Following the sale, the executive vice president now directly owns 31,028 shares of the company’s stock, valued at approximately $2,319,653.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott Tozier sold 3,343 shares of the company’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $74.55, for a total transaction of $249,220.65. Following the sale, the chief financial officer now directly owns 46,711 shares in the company, valued at $3,482,305.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,842 shares of company stock worth $728,599. Company insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Albemarle by 55,259.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,285,376 shares of the specialty chemicals company’s stock worth $427,596,000 after purchasing an additional 4,277,635 shares in the last quarter. CI Investments Inc. increased its position in shares of Albemarle by 122.0% in the 3rd quarter. CI Investments Inc. now owns 66,600 shares of the specialty chemicals company’s stock valued at $6,645,000 after purchasing an additional 36,600 shares during the last quarter. American International Group Inc. increased its position in shares of Albemarle by 3.9% in the 3rd quarter. American International Group Inc. now owns 41,712 shares of the specialty chemicals company’s stock valued at $4,162,000 after purchasing an additional 1,580 shares during the last quarter. FMR LLC increased its position in shares of Albemarle by 402.6% in the 3rd quarter. FMR LLC now owns 65,760 shares of the specialty chemicals company’s stock valued at $6,561,000 after purchasing an additional 52,677 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Albemarle by 9.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,798 shares of the specialty chemicals company’s stock valued at $605,000 after buying an additional 508 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Albemarle Company Profile

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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