Albemarle (NYSE:ALB) Releases FY 2019 Earnings Guidance

Albemarle (NYSE:ALB) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.25-6.65 for the period, compared to the Thomson Reuters consensus estimate of $6.18. The company issued revenue guidance of $3.65-3.85 billion, compared to the consensus revenue estimate of $3.67 billion.

A number of equities analysts have recently weighed in on the stock. TheStreet cut shares of Albemarle from a b- rating to a c+ rating in a research report on Monday, May 20th. ValuEngine lowered shares of Albemarle from a sell rating to a strong sell rating in a report on Tuesday, July 2nd. Loop Capital dropped their price objective on shares of Albemarle to $108.00 and set a buy rating on the stock in a report on Thursday, May 16th. KeyCorp restated an overweight rating and set a $94.00 price objective (down from $100.00) on shares of Albemarle in a report on Tuesday, July 9th. Finally, Jefferies Financial Group lowered their price target on shares of Albemarle from $114.00 to $90.00 and set a buy rating on the stock in a research note on Monday, May 20th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $95.77.

NYSE ALB traded up $2.14 on Wednesday, hitting $67.59. The company’s stock had a trading volume of 2,523,783 shares, compared to its average volume of 1,442,325. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.96 and a current ratio of 1.55. Albemarle has a 1-year low of $63.10 and a 1-year high of $108.74. The stock’s 50-day simple moving average is $71.11. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.72 and a beta of 1.59.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, May 8th. The specialty chemicals company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The company had revenue of $832.06 million for the quarter, compared to analyst estimates of $827.94 million. During the same period in the prior year, the firm posted $1.30 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Albemarle will post 6.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.3675 per share. This represents a $1.47 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, September 12th. Albemarle’s dividend payout ratio is presently 26.82%.

In related news, SVP Deeanne J. Marlow bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $70.85 per share, with a total value of $70,850.00. Following the completion of the purchase, the senior vice president now directly owns 1,000 shares in the company, valued at $70,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is owned by corporate insiders.

About Albemarle

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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