Scotiabank Has Negative Outlook of Albemarle FY2025 Earnings

Albemarle Co. (NYSE:ALB) – Investment analysts at Scotiabank dropped their FY2025 earnings per share (EPS) estimates for Albemarle in a research note issued to investors on Tuesday, February 18th. Scotiabank analyst B. Isaacson now forecasts that the specialty chemicals company will post earnings per share of ($0.94) for the year, down from their prior estimate of $2.74. Scotiabank currently has a “Sector Perform” rating and a $75.00 price objective on the stock. The consensus estimate for Albemarle’s current full-year earnings is $0.45 per share.

Several other brokerages have also issued reports on ALB. Royal Bank of Canada decreased their price objective on Albemarle from $133.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. KeyCorp dropped their price objective on Albemarle from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Clarkson Capital started coverage on Albemarle in a research note on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price target on the stock. Truist Financial decreased their price objective on Albemarle from $96.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, Citigroup decreased their price objective on Albemarle from $115.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.68.

Albemarle Stock Down 1.4 %

Albemarle stock opened at $82.51 on Friday. Albemarle has a 1 year low of $71.97 and a 1 year high of $143.19. The business has a 50-day moving average of $87.29 and a 200-day moving average of $92.07. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.95.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, February 12th. The specialty chemicals company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.49). Albemarle had a negative net margin of 21.93% and a negative return on equity of 1.72%.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of Albemarle by 1,400.0% in the third quarter. Quarry LP now owns 270 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 252 shares during the period. Assetmark Inc. raised its position in shares of Albemarle by 340.6% in the 4th quarter. Assetmark Inc. now owns 304 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 235 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Albemarle by 606.5% in the 4th quarter. Trust Co. of Vermont now owns 325 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 279 shares in the last quarter. Eastern Bank bought a new position in shares of Albemarle in the 3rd quarter worth approximately $31,000. Finally, First Community Trust NA grew its stake in shares of Albemarle by 55.0% in the 4th quarter. First Community Trust NA now owns 400 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 142 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total transaction of $255,328.00. Following the completion of the sale, the chief executive officer now owns 73,747 shares of the company’s stock, valued at $7,457,296.64. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.