Albemarle Co. (ALB) Expected to Post Quarterly Sales of $893.87 Million

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Wall Street brokerages expect that Albemarle Co. (NYSE:ALB) will announce $893.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Albemarle’s earnings, with the highest sales estimate coming in at $917.76 million and the lowest estimate coming in at $861.19 million. Albemarle posted sales of $857.79 million in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The firm is scheduled to announce its next earnings report on Tuesday, February 26th.

On average, analysts expect that Albemarle will report full year sales of $3.39 billion for the current financial year, with estimates ranging from $3.34 billion to $3.51 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.65 billion, with estimates ranging from $3.52 billion to $3.79 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Albemarle.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, November 7th. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. Albemarle had a return on equity of 15.39% and a net margin of 10.44%. The firm had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $796.79 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year.

Several equities research analysts have recently issued reports on ALB shares. ValuEngine cut Albemarle from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Loop Capital set a $130.00 target price on Albemarle and gave the stock a “buy” rating in a report on Monday, October 8th. SunTrust Banks raised Albemarle from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $115.00 in a report on Tuesday, September 4th. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Tuesday, August 7th. Finally, Vertical Research started coverage on Albemarle in a report on Tuesday, September 25th. They issued a “sell” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $122.63.

In related news, EVP Karen G. Narwold sold 3,100 shares of Albemarle stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $97.11, for a total value of $301,041.00. Following the completion of the transaction, the executive vice president now owns 30,242 shares in the company, valued at $2,936,800.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of Albemarle by 7.7% during the third quarter. Jennison Associates LLC now owns 7,896,101 shares of the specialty chemicals company’s stock valued at $787,873,000 after buying an additional 565,127 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Albemarle by 55,259.5% during the third quarter. Bank of New York Mellon Corp now owns 4,285,376 shares of the specialty chemicals company’s stock valued at $427,596,000 after buying an additional 4,277,635 shares during the period. Iridian Asset Management LLC CT boosted its position in shares of Albemarle by 2.0% during the second quarter. Iridian Asset Management LLC CT now owns 2,024,607 shares of the specialty chemicals company’s stock valued at $190,981,000 after buying an additional 38,781 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Albemarle during the third quarter valued at approximately $142,933,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Albemarle by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,101,873 shares of the specialty chemicals company’s stock valued at $109,952,000 after buying an additional 33,805 shares during the period. Institutional investors own 91.60% of the company’s stock.

Shares of ALB stock opened at $100.98 on Friday. Albemarle has a 12-month low of $86.75 and a 12-month high of $138.67. The company has a current ratio of 1.83, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.72 billion, a PE ratio of 22.00, a PEG ratio of 1.31 and a beta of 1.53.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.34 annualized dividend and a yield of 1.33%. Albemarle’s dividend payout ratio is currently 29.19%.

Albemarle Company Profile

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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