Albemarle (NYSE:ALB) Releases FY 2022 Earnings Guidance

Albemarle (NYSE:ALBGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $12.30-$15.00 for the period, compared to the consensus estimate of $10.88. The company issued revenue guidance of $5.80 billion-$6.20 billion, compared to the consensus revenue estimate of $5.44 billion.Albemarle also updated its FY22 guidance to $12.30-15.00 EPS.

Several research firms have recently commented on ALB. Oppenheimer lifted their price target on shares of Albemarle from $307.00 to $368.00 in a report on Friday, May 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Albemarle from $290.00 to $320.00 in a research report on Tuesday. Mizuho lifted their price objective on shares of Albemarle from $243.00 to $293.00 in a research report on Friday, May 6th. Cowen lifted their price objective on shares of Albemarle from $275.00 to $300.00 in a research report on Friday, May 6th. Finally, BMO Capital Markets cut their price objective on shares of Albemarle from $300.00 to $280.00 in a research report on Friday, February 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $278.65.

Shares of Albemarle stock traded up $17.54 during trading on Thursday, hitting $255.05. The stock had a trading volume of 2,264,989 shares, compared to its average volume of 1,190,402. The stock has a 50 day simple moving average of $216.56 and a 200 day simple moving average of $224.65. The company has a market capitalization of $29.87 billion, a PE ratio of 107.16, a P/E/G ratio of 0.84 and a beta of 1.55. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.33. Albemarle has a 1 year low of $157.82 and a 1 year high of $291.48.

Albemarle (NYSE:ALBGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.65. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.03 billion. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. The firm’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. As a group, equities analysts expect that Albemarle will post 11.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, June 9th. Albemarle’s dividend payout ratio (DPR) is presently 66.39%.

Several institutional investors have recently modified their holdings of ALB. Wellington Management Group LLP lifted its stake in shares of Albemarle by 33.6% in the first quarter. Wellington Management Group LLP now owns 865,408 shares of the specialty chemicals company’s stock worth $191,386,000 after buying an additional 217,538 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Albemarle by 14.3% in the first quarter. Invesco Ltd. now owns 1,247,801 shares of the specialty chemicals company’s stock worth $275,952,000 after buying an additional 155,848 shares during the last quarter. Morgan Stanley raised its stake in Albemarle by 35.2% during the 2nd quarter. Morgan Stanley now owns 507,062 shares of the specialty chemicals company’s stock valued at $85,420,000 after purchasing an additional 131,903 shares during the last quarter. Vanguard Group Inc. raised its stake in Albemarle by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,661,001 shares of the specialty chemicals company’s stock valued at $3,021,130,000 after purchasing an additional 75,867 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Albemarle by 9.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 392,636 shares of the specialty chemicals company’s stock valued at $86,831,000 after purchasing an additional 34,534 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Albemarle Company Profile (Get Rating)

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use 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 in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.

See Also

Earnings History and Estimates for Albemarle (NYSE:ALB)

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