Albemarle Co. Forecasted to Post Q1 2018 Earnings of $1.23 Per Share (ALB)
Albemarle Co. (NYSE:ALB) – Investment analysts at KeyCorp increased their Q1 2018 earnings per share (EPS) estimates for Albemarle in a research note issued on Wednesday. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will post earnings of $1.23 per share for the quarter, up from their prior forecast of $1.20. KeyCorp currently has a “Overweight” rating and a $148.00 target price on the stock. KeyCorp also issued estimates for Albemarle’s Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.28 EPS, Q4 2018 earnings at $1.53 EPS, FY2018 earnings at $5.30 EPS and FY2019 earnings at $6.00 EPS.
A number of other equities analysts have also weighed in on the company. Royal Bank of Canada decreased their price target on Albemarle from $133.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets decreased their price target on Albemarle from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday. Loop Capital set a $130.00 price objective on Albemarle and gave the stock a “buy” rating in a research report on Friday. Nomura decreased their price objective on Albemarle from $161.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Citigroup decreased their price objective on Albemarle from $148.00 to $112.00 and set a “neutral” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Albemarle currently has a consensus rating of “Buy” and an average price target of $128.07.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.13. Albemarle had a return on equity of 13.19% and a net margin of 1.79%. The business had revenue of $857.79 million during the quarter, compared to analyst estimates of $791.46 million.
Several institutional investors have recently made changes to their positions in ALB. Bank of New York Mellon Corp lifted its holdings in shares of Albemarle by 258.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock valued at $621,845,000 after buying an additional 3,287,989 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Albemarle by 21.4% during the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock valued at $1,062,819,000 after buying an additional 1,375,546 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Albemarle by 497.9% during the 4th quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock valued at $192,725,000 after buying an additional 1,254,927 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Albemarle by 95.3% during the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after buying an additional 778,649 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Albemarle by 98.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock valued at $178,281,000 after buying an additional 650,158 shares during the last quarter. Institutional investors and hedge funds own 87.23% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.41%. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, March 14th. Albemarle’s payout ratio is currently 30.12%.
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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.
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