Albemarle Co. to Post Q2 2022 Earnings of $3.20 Per Share, KeyCorp Forecasts (NYSE:ALB)

Albemarle Co. (NYSE:ALBGet Rating) – KeyCorp upped their Q2 2022 earnings per share (EPS) estimates for Albemarle in a research report issued on Monday, May 23rd. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will earn $3.20 per share for the quarter, up from their previous forecast of $2.69. KeyCorp currently has a “Underweight” rating and a $217.00 target price on the stock. KeyCorp also issued estimates for Albemarle’s Q3 2022 earnings at $4.18 EPS, Q4 2022 earnings at $4.07 EPS, FY2022 earnings at $13.83 EPS and FY2023 earnings at $26.72 EPS.

Other analysts also recently issued research reports about the stock. TheStreet raised shares of Albemarle from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Wells Fargo & Company lifted their price objective on shares of Albemarle from $285.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday. Oppenheimer lifted their price objective on shares of Albemarle from $307.00 to $368.00 in a report on Friday, May 6th. StockNews.com raised shares of Albemarle from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Albemarle from $300.00 to $314.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $278.65.

NYSE ALB opened at $237.51 on Thursday. The company has a fifty day simple moving average of $215.42 and a 200 day simple moving average of $224.82. Albemarle has a 12-month low of $157.82 and a 12-month 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 company has a market cap of $27.82 billion, a P/E ratio of 99.79, a PEG ratio of 0.84 and a beta of 1.55.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.65. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $1.10 EPS. Albemarle’s revenue for the quarter was up 36.0% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, June 9th. Albemarle’s dividend payout ratio (DPR) is 66.39%.

A number of institutional investors and hedge funds have recently modified their holdings of ALB. Kozak & Associates Inc. purchased a new stake in Albemarle in the third quarter worth approximately $27,000. Lowe Wealth Advisors LLC purchased a new stake in Albemarle in the first quarter worth approximately $28,000. City State Bank purchased a new stake in Albemarle in the fourth quarter worth approximately $29,000. Covestor Ltd boosted its stake in shares of Albemarle by 51.2% during the first quarter. Covestor Ltd now owns 130 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 44 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Albemarle by 127.3% during 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 period. 80.03% of the stock is owned by institutional investors and hedge funds.

About Albemarle (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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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