Albemarle (NYSE:ALB) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.25-6.65 for the period, compared to the Thomson Reuters consensus estimate of $6.18. The company issued revenue guidance of $3.65-3.85 billion, compared to the consensus revenue estimate of $3.67 billion.Albemarle also updated its FY19 guidance to $6.25-6.65 EPS.
A number of brokerages have recently issued reports on ALB. Oppenheimer cut their price target on Albemarle from $157.00 to $128.00 and set an outperform rating on the stock in a report on Friday. TheStreet downgraded Albemarle from a b- rating to a c+ rating in a report on Monday, May 20th. KeyCorp reiterated an overweight rating and issued a $94.00 price target (down from $100.00) on shares of Albemarle in a report on Tuesday, July 9th. Jefferies Financial Group cut their price target on Albemarle from $114.00 to $90.00 and set a buy rating on the stock in a report on Monday, May 20th. They noted that the move was a valuation call. Finally, Loop Capital cut their price target on Albemarle to $108.00 and set a buy rating on the stock in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Albemarle presently has an average rating of Hold and an average price target of $95.98.
ALB stock traded down $3.24 on Friday, hitting $70.25. 2,093,032 shares of the company’s stock were exchanged, compared to its average volume of 1,289,545. Albemarle has a 12-month low of $63.10 and a 12-month high of $108.74. The stock’s 50 day simple moving average is $71.12. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $7.44 billion, a PE ratio of 12.82, a P/E/G ratio of 0.71 and a beta of 1.59.
Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.14. Albemarle had a return on equity of 15.93% and a net margin of 16.01%. The firm had revenue of $885.05 million for the quarter, compared to the consensus estimate of $893.50 million. During the same period in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Albemarle will post 6.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.3675 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.47 annualized dividend and a yield of 2.09%. Albemarle’s dividend payout ratio (DPR) is 26.82%.
In other Albemarle news, SVP Deeanne J. Marlow bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $70.85 per share, for a total transaction of $70,850.00. Following the purchase, the senior vice president now directly owns 1,000 shares in the company, valued at $70,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by insiders.
Albemarle Company Profile
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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