Albemarle (NYSE:ALB – Get Rating) updated its FY 2022 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 $10.88. The company issued revenue guidance of $5.80 billion-$6.20 billion, compared to the consensus revenue estimate of $5.44 billion.
A number of equities analysts have recently commented on ALB shares. Citigroup raised their price objective on shares of Albemarle from $262.00 to $279.00 in a report on Friday, May 6th. Oppenheimer raised their price objective on shares of Albemarle from $307.00 to $368.00 in a research report on Friday, May 6th. BMO Capital Markets lowered their price target on shares of Albemarle from $300.00 to $280.00 in a research report on Friday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Albemarle from $290.00 to $320.00 in a research report on Tuesday, May 24th. Finally, Cowen lifted their price objective on shares of Albemarle from $275.00 to $300.00 in a research note on Friday, May 6th. Two equities 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 stock. According to MarketBeat, the company has an average rating of Buy and an average target price of $278.65.
NYSE ALB opened at $270.92 on Monday. 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 12-month low of $157.82 and a 12-month high of $291.48. The company has a market capitalization of $31.73 billion, a PE ratio of 113.83, a price-to-earnings-growth ratio of 0.78 and a beta of 1.55. The firm’s 50 day moving average is $218.01 and its 200-day moving average is $224.00.
Albemarle (NYSE:ALB – Get Rating) last issued its earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. The business 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 for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, sell-side analysts expect that Albemarle will post 13.5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be issued a dividend of $0.395 per share. The ex-dividend date is Thursday, June 9th. This represents a $1.58 dividend on an annualized basis and a yield of 0.58%. Albemarle’s payout ratio is 66.39%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of Albemarle by 35.2% in the second 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. Stifel Financial Corp increased its holdings in shares of Albemarle by 4.4% in the fourth quarter. Stifel Financial Corp now owns 56,422 shares of the specialty chemicals company’s stock valued at $13,190,000 after purchasing an additional 2,367 shares during the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Albemarle by 18.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 13,189 shares of the specialty chemicals company’s stock valued at $3,083,000 after purchasing an additional 2,017 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Albemarle by 127.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Albemarle by 110.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,016 shares of the specialty chemicals company’s stock valued at $939,000 after purchasing an additional 2,112 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.
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