Albemarle Co. (NYSE:ALB) to Post Q3 2020 Earnings of $0.75 Per Share, Seaport Global Securities Forecasts

Albemarle Co. (NYSE:ALB) – Investment analysts at Seaport Global Securities cut their Q3 2020 earnings per share (EPS) estimates for shares of Albemarle in a research note issued on Monday, July 13th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $0.75 per share for the quarter, down from their previous estimate of $0.76. Seaport Global Securities also issued estimates for Albemarle’s Q4 2020 earnings at $1.07 EPS, FY2020 earnings at $3.56 EPS, Q1 2021 earnings at $0.94 EPS, Q2 2021 earnings at $1.05 EPS, Q3 2021 earnings at $1.09 EPS, Q4 2021 earnings at $1.36 EPS and FY2021 earnings at $4.44 EPS.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.15. Albemarle had a return on equity of 15.34% and a net margin of 14.50%. The firm had revenue of $738.85 million for the quarter, compared to the consensus estimate of $769.26 million. During the same period last year, the business posted $1.23 EPS. The company’s revenue for the quarter was down 11.2% on a year-over-year basis.

A number of other brokerages have also weighed in on ALB. Goldman Sachs Group lowered Albemarle from a “buy” rating to a “neutral” rating and cut their price objective for the company from $67.00 to $61.00 in a research report on Tuesday, May 12th. UBS Group dropped their target price on Albemarle from $98.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Deutsche Bank lifted their price target on shares of Albemarle from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. TheStreet downgraded shares of Albemarle from a “b-” rating to a “c+” rating in a research note on Friday, March 20th. Finally, BMO Capital Markets reduced their price objective on shares of Albemarle from $115.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.23.

NYSE:ALB opened at $81.56 on Tuesday. The stock has a market cap of $8.39 billion, a PE ratio of 17.10, a P/E/G ratio of 2.74 and a beta of 1.46. The business’s 50-day simple moving average is $77.83 and its two-hundred day simple moving average is $72.85. The company has a quick ratio of 1.09, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. Albemarle has a 52 week low of $48.89 and a 52 week high of $99.40.

Institutional investors have recently modified their holdings of the business. Veracity Capital LLC acquired a new stake in shares of Albemarle in the 2nd quarter valued at $401,000. Fulton Breakefield Broenniman LLC purchased a new stake in Albemarle during the second quarter worth about $203,000. Exane Derivatives boosted its holdings in Albemarle by 199.0% during the second quarter. Exane Derivatives now owns 2,434 shares of the specialty chemicals company’s stock worth $188,000 after buying an additional 1,620 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Albemarle by 9.2% during the second quarter. Contravisory Investment Management Inc. now owns 5,631 shares of the specialty chemicals company’s stock worth $446,000 after buying an additional 474 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Albemarle by 26.4% during the second quarter. Envestnet Asset Management Inc. now owns 103,421 shares of the specialty chemicals company’s stock worth $7,985,000 after buying an additional 21,627 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were given a $0.385 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.89%. Albemarle’s dividend payout ratio (DPR) is currently 25.50%.

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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