Analysts Offer Predictions for Albemarle Co.’s FY2024 Earnings (NYSE:ALB)

Albemarle Co. (NYSE:ALB) – Oppenheimer issued their FY2024 earnings per share (EPS) estimates for Albemarle in a report released on Monday, September 13th. Oppenheimer analyst C. Rusch anticipates that the specialty chemicals company will earn $7.69 per share for the year. Oppenheimer currently has a “Outperform” rating and a $296.00 price objective on the stock. Oppenheimer also issued estimates for Albemarle’s FY2025 earnings at $9.33 EPS.

Other analysts have also issued research reports about the stock. Cowen raised their price target on shares of Albemarle from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, August 30th. Bank of America increased their price objective on shares of Albemarle from $121.00 to $140.00 and gave the company an “underperform” rating in a report on Friday, August 6th. They noted that the move was a valuation call. KeyCorp increased their price objective on shares of Albemarle from $117.00 to $127.00 and gave the company an “underweight” rating in a report on Friday, August 6th. UBS Group increased their price objective on shares of Albemarle from $240.00 to $290.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Albemarle from $225.00 to $270.00 and gave the company an “equal weight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle has a consensus rating of “Hold” and an average target price of $199.95.

ALB stock opened at $230.47 on Tuesday. The firm has a market cap of $26.95 billion, a PE ratio of 37.35, a P/E/G ratio of 4.50 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 2.18. The firm’s fifty day moving average is $214.39 and its 200 day moving average is $178.41. Albemarle has a one year low of $79.06 and a one year high of $253.10.

Albemarle (NYSE:ALB) last released its quarterly earnings results on Tuesday, August 3rd. The specialty chemicals company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The company had revenue of $773.90 million for the quarter, compared to analyst estimates of $787.72 million. Albemarle had a net margin of 21.78% and a return on equity of 8.92%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 17th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, September 16th. Albemarle’s dividend payout ratio (DPR) is presently 37.86%.

In other Albemarle news, EVP Karen G. Narwold sold 1,337 shares of Albemarle stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $243.75, for a total transaction of $325,893.75. Following the completion of the sale, the executive vice president now directly owns 19,533 shares in the company, valued at $4,761,168.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Karen G. Narwold sold 1,338 shares of Albemarle stock in a transaction dated Thursday, July 8th. The shares were sold at an average price of $165.69, for a total transaction of $221,693.22. Following the sale, the executive vice president now owns 41,019 shares of the company’s stock, valued at $6,796,438.11. The disclosure for this sale can be found here. Insiders have sold 23,534 shares of company stock worth $5,298,393 over the last ninety days. 0.63% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. TCI Wealth Advisors Inc. grew its holdings in shares of Albemarle by 43.0% in the second quarter. TCI Wealth Advisors Inc. now owns 173 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Albemarle by 1.2% in the second quarter. IFP Advisors Inc now owns 4,637 shares of the specialty chemicals company’s stock valued at $783,000 after purchasing an additional 56 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Albemarle by 2.3% in the second quarter. Perigon Wealth Management LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $449,000 after purchasing an additional 59 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Albemarle by 2.9% in the first quarter. Neuberger Berman Group LLC now owns 2,276 shares of the specialty chemicals company’s stock valued at $329,000 after purchasing an additional 64 shares in the last quarter. Finally, Delta Financial Advisors LLC grew its holdings in shares of Albemarle by 1.6% in the second quarter. Delta Financial Advisors LLC now owns 4,091 shares of the specialty chemicals company’s stock valued at $689,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Albemarle Company Profile

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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