Albemarle (ALB) Set to Announce Quarterly Earnings on Wednesday

Albemarle (NYSE:ALB) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.53 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Thursday, February 15th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.86. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Albemarle had a net margin of 16.36% and a return on equity of 26.62%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.62 EPS. On average, analysts expect Albemarle to post $3 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Albemarle Stock Performance

NYSE:ALB opened at $114.17 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.86. Albemarle has a 1-year low of $106.69 and a 1-year high of $247.44. The firm has a 50-day moving average of $122.93 and a two-hundred day moving average of $128.45. The stock has a market cap of $13.42 billion, a P/E ratio of 8.56, a PEG ratio of 2.27 and a beta of 1.62.

Albemarle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. Albemarle’s payout ratio is 11.99%.

Analyst Upgrades and Downgrades

ALB has been the topic of several research reports. Wolfe Research initiated coverage on shares of Albemarle in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Vertical Research lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a research note on Friday, March 8th. Deutsche Bank Aktiengesellschaft lowered shares of Albemarle from a “buy” rating to a “hold” rating and dropped their price target for the company from $155.00 to $135.00 in a research note on Thursday, January 11th. Citigroup raised their price target on shares of Albemarle from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada dropped their price target on shares of Albemarle from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $175.05.

Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.