Brokers Set Expectations for Albemarle Co.’s FY2019 Earnings (NYSE:ALB)
Albemarle Co. (NYSE:ALB) – Equities researchers at Oppenheimer boosted their FY2019 earnings estimates for shares of Albemarle in a note issued to investors on Friday, August 9th. Oppenheimer analyst C. Rusch now expects that the specialty chemicals company will post earnings per share of $6.39 for the year, up from their previous forecast of $6.21. Oppenheimer has a “Outperform” rating and a $128.00 price target on the stock. Oppenheimer also issued estimates for Albemarle’s Q4 2019 earnings at $1.88 EPS, FY2020 earnings at $6.61 EPS and FY2021 earnings at $7.51 EPS.
Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.14. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. The company had revenue of $885.05 million during the quarter, compared to analysts’ expectations of $893.50 million. During the same period in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.
Shares of NYSE ALB opened at $68.45 on Monday. Albemarle has a 52-week low of $63.10 and a 52-week high of $108.74. The company’s fifty day moving average is $71.22. The stock has a market cap of $7.45 billion, a PE ratio of 12.49, a PEG ratio of 0.72 and a beta of 1.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.45 and a quick ratio of 0.87.
Institutional investors have recently made changes to their positions in the stock. Kistler Tiffany Companies LLC boosted its position in Albemarle by 29.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,885 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 432 shares during the period. Evolution Wealth Advisors LLC acquired a new position in Albemarle in the 2nd quarter worth $1,878,000. Arizona State Retirement System lifted its holdings in Albemarle by 14.1% in the 2nd quarter. Arizona State Retirement System now owns 52,073 shares of the specialty chemicals company’s stock worth $3,666,000 after buying an additional 6,441 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Albemarle by 18.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,910 shares of the specialty chemicals company’s stock worth $4,665,000 after buying an additional 8,665 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Albemarle by 4.7% in the 1st quarter. GHP Investment Advisors Inc. now owns 7,721 shares of the specialty chemicals company’s stock worth $633,000 after buying an additional 347 shares in the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.3675 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.47 dividend on an annualized basis and a yield of 2.15%. Albemarle’s dividend payout ratio (DPR) is 26.82%.
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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