Albemarle (NYSE:ALB) Updates FY22 Earnings Guidance

Albemarle (NYSE:ALBGet Rating) updated its FY22 earnings guidance on Monday. The company provided earnings per share guidance of $12.30-15.00 for the period, compared to the consensus earnings per share estimate of $10.84. The company issued revenue guidance of $5.8-6.2 billion, compared to the consensus revenue estimate of $5.45 billion.Albemarle also updated its FY 2022 guidance to $12.30-$15.00 EPS.

A number of research firms have weighed in on ALB. Cowen increased their target price on Albemarle from $275.00 to $300.00 in a report on Friday, May 6th. Cowen increased their target price on Albemarle from $275.00 to $300.00 in a report on Friday, May 6th. StockNews.com raised Albemarle from a sell rating to a hold rating in a report on Friday, May 6th. Deutsche Bank Aktiengesellschaft upped their price target on Albemarle from $290.00 to $320.00 in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on Albemarle from $285.00 to $320.00 and gave the stock an overweight rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $278.65.

Shares of ALB stock traded up $17.54 on Thursday, reaching $255.05. 2,264,989 shares of the company’s stock were exchanged, compared to its average volume of 1,190,402. Albemarle has a 52 week low of $157.82 and a 52 week high of $291.48. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.33. The stock 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’s fifty day simple moving average is $216.56 and its 200 day simple moving average is $224.65.

Albemarle (NYSE:ALBGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.10 EPS. Albemarle’s quarterly revenue was up 36.0% compared to the same quarter last year. As a group, sell-side analysts predict that Albemarle will post 11.11 earnings per share for the current fiscal year.

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

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

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.

Further Reading

Earnings History and Estimates for Albemarle (NYSE:ALB)

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