$806.51 Million in Sales Expected for Albemarle Co. (ALB) This Quarter

Equities analysts forecast that Albemarle Co. (NYSE:ALB) will post sales of $806.51 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Albemarle’s earnings, with estimates ranging from $788.92 million to $829.00 million. Albemarle reported sales of $722.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The company is scheduled to announce its next earnings report on Wednesday, May 2nd.

On average, analysts expect that Albemarle will report full-year sales of $806.51 million for the current financial year, with estimates ranging from $3.23 billion to $3.39 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.54 billion per share, with estimates ranging from $3.41 billion to $3.61 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Albemarle.

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Albemarle (NYSE:ALB) last released its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.13. The company had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%.

Several research analysts have recently weighed in on ALB shares. Citigroup lowered their price objective on shares of Albemarle from $148.00 to $112.00 and set a “neutral” rating on the stock in a research note on Thursday, March 1st. Berenberg Bank started coverage on shares of Albemarle in a research note on Tuesday, February 27th. They set a “buy” rating and a $150.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and set a $130.00 price objective (down from $160.00) on shares of Albemarle in a research note on Friday, March 2nd. Seaport Global Securities restated a “hold” rating and set a $130.00 price objective on shares of Albemarle in a research note on Monday, February 5th. Finally, Morgan Stanley started coverage on shares of Albemarle in a research note on Tuesday, February 27th. They set a “buy” rating and a $150.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $128.07.

Several large investors have recently made changes to their positions in ALB. SeaCrest Wealth Management LLC acquired a new position in shares of Albemarle during the 4th quarter worth approximately $103,000. Stephens Inc. AR acquired a new position in shares of Albemarle during the 4th quarter worth approximately $115,000. Banco de Sabadell S.A acquired a new position in shares of Albemarle during the 4th quarter worth approximately $133,000. Valeo Financial Advisors LLC acquired a new position in shares of Albemarle during the 4th quarter worth approximately $155,000. Finally, Renaissance Investment Group LLC acquired a new position in shares of Albemarle during the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

Albemarle (NYSE ALB) traded up $0.30 during trading on Wednesday, hitting $98.37. 2,101,782 shares of the stock traded hands, compared to its average volume of 2,713,059. The firm has a market cap of $10,850.31, a price-to-earnings ratio of 204.94, a PEG ratio of 1.18 and a beta of 1.60. Albemarle has a one year low of $90.49 and a one year high of $144.99. The company has a quick ratio of 1.57, a current ratio of 2.06 and a debt-to-equity ratio of 0.37.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s dividend payout ratio is presently 279.17%.

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About Albemarle

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.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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