Albemarle Co. (ALB) Expected to Post Quarterly Sales of $740.14 Million

Albemarle Co. (ALB) Expected to Post Quarterly Sales of $740.14 Million

On average, analysts expect that Albemarle will report full-year sales of $740.14 million for the current financial year, with estimates ranging from $2.89 billion to $2.99 billion. For the next year, analysts forecast that the business will report sales of $3.14 billion per share, with estimates ranging from $2.98 billion to $3.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Albemarle.

Equities research analysts predict that Albemarle Co. (NYSE:ALB) will announce sales of $740.14 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Albemarle’s earnings, with estimates ranging from $716.68 million to $765.00 million. Albemarle posted sales of $669.33 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, May 3rd. The specialty chemicals company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.10. Albemarle had a return on equity of 14.38% and a net margin of 6.92%. The firm had revenue of $722.06 million during the quarter, compared to the consensus estimate of $678.74 million.

A number of research analysts have commented on ALB shares. Robert W. Baird restated an “outperform” rating and set a $125.00 price objective on shares of Albemarle in a research note on Friday, March 17th. Royal Bank of Canada boosted their price objective on Albemarle from $114.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Instinet boosted their price objective on Albemarle from $102.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. Zacks Investment Research upgraded Albemarle from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Monday, March 27th. Finally, Jefferies Group LLC restated a “buy” rating and set a $120.00 price objective (up previously from $105.00) on shares of Albemarle in a research note on Wednesday, March 1st. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Albemarle has a consensus rating of “Buy” and a consensus price target of $113.09.

Shares of Albemarle (ALB) opened at 113.60 on Thursday. Albemarle has a 12-month low of $74.86 and a 12-month high of $113.73. The company’s 50 day moving average price is $109.14 and its 200-day moving average price is $98.08. The firm has a market cap of $12.58 billion, a P/E ratio of 27.61 and a beta of 1.41.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, June 13th. Albemarle’s payout ratio is 63.54%.

Several hedge funds have recently made changes to their positions in ALB. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Albemarle during the third quarter worth about $104,000. Van ECK Associates Corp raised its stake in shares of Albemarle by 97.7% in the fourth quarter. Van ECK Associates Corp now owns 1,360 shares of the specialty chemicals company’s stock worth $117,000 after buying an additional 672 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Albemarle by 0.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,454 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 5 shares during the last quarter. Cullinan Associates Inc. acquired a new stake in shares of Albemarle during the first quarter worth about $201,000. Finally, Conning Inc. acquired a new stake in shares of Albemarle during the first quarter worth about $205,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ALB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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