Research Analysts Set Expectations for Albemarle Co.’s Q1 2019 Earnings (ALB)

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Albemarle Co. (NYSE:ALB) – Equities researchers at KeyCorp reduced their Q1 2019 earnings per share estimates for Albemarle in a note issued to investors on Thursday, April 11th. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will earn $1.22 per share for the quarter, down from their previous forecast of $1.37. KeyCorp currently has a “Overweight” rating and a $110.00 target price on the stock. KeyCorp also issued estimates for Albemarle’s Q3 2019 earnings at $1.65 EPS and Q4 2019 earnings at $1.81 EPS.

Other analysts also recently issued research reports about the stock. Nomura downgraded shares of Albemarle from a “buy” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $85.00 in a report on Tuesday, January 15th. Loop Capital dropped their price target on shares of Albemarle to $112.00 and set a “buy” rating on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. Citigroup downgraded shares of Albemarle from a “buy” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $81.00 in a report on Tuesday, February 5th. Berenberg Bank downgraded shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the company from $120.00 to $78.11 in a report on Thursday, January 3rd. Finally, ValuEngine downgraded shares of Albemarle from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $100.85.

NYSE:ALB opened at $82.26 on Monday. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.89 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.69 and a quick ratio of 1.10. Albemarle has a fifty-two week low of $71.89 and a fifty-two week high of $108.74.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. The business had revenue of $921.70 million during the quarter, compared to analyst estimates of $894.45 million. Albemarle had a net margin of 20.55% and a return on equity of 15.82%. Albemarle’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS.

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Thursday, March 14th. This is an increase from Albemarle’s previous quarterly dividend of $0.34. Albemarle’s dividend payout ratio (DPR) is presently 26.82%.

In related news, EVP Karen G. Narwold sold 1,243 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $91.00, for a total value of $113,113.00. Following the transaction, the executive vice president now owns 34,757 shares of the company’s stock, valued at $3,162,887. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott Tozier sold 2,961 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $91.00, for a total transaction of $269,451.00. Following the completion of the transaction, the chief financial officer now directly owns 49,672 shares in the company, valued at approximately $4,520,152. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Albemarle by 7.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,998 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 143 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Albemarle by 5.1% in the fourth quarter. AdvisorNet Financial Inc now owns 4,106 shares of the specialty chemicals company’s stock worth $316,000 after buying an additional 198 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Albemarle by 143.1% in the fourth quarter. Proficio Capital Partners LLC now owns 350 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its holdings in shares of Albemarle by 1.4% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 16,534 shares of the specialty chemicals company’s stock worth $1,274,000 after buying an additional 225 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Albemarle by 2.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,123 shares of the specialty chemicals company’s stock worth $858,000 after buying an additional 226 shares during the last quarter. 94.08% of the stock is currently owned by institutional investors.

About Albemarle

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.

Further Reading: Inflation

Earnings History and Estimates for Albemarle (NYSE:ALB)

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