Research Analysts Set Expectations for Albemarle Co.’s Q1 2019 Earnings (ALB)
Albemarle Co. (NYSE:ALB) – Investment analysts at KeyCorp dropped their Q1 2019 earnings per share (EPS) estimates for shares of Albemarle in a research note issued to investors on Thursday, April 11th. KeyCorp analyst M. Sison now expects that the specialty chemicals company will post earnings per share of $1.22 for the quarter, down from their prior estimate of $1.37. KeyCorp currently has a “Overweight” rating and a $110.00 price target 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.
Several other brokerages have also weighed in on ALB. ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. Loop Capital raised their target price on Albemarle from $112.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. Deutsche Bank raised their target price on Albemarle from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 25th. Citigroup lowered Albemarle from a “buy” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. Finally, reissued a “buy” rating and set a $157.00 target price on shares of Albemarle in a research report on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $100.85.
Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, February 20th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. Albemarle had a return on equity of 15.82% and a net margin of 20.55%. The business had revenue of $921.70 million for the quarter, compared to analyst estimates of $894.45 million. During the same quarter last year, the company earned $1.34 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.3675 per share. This is a positive change from Albemarle’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.47 annualized dividend and a yield of 1.79%. Albemarle’s payout ratio is 26.82%.
In other news, CFO Scott Tozier sold 2,961 shares of the business’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 value of $269,451.00. Following the transaction, the chief financial officer now owns 49,672 shares of the company’s stock, valued at $4,520,152. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Karen G. Narwold sold 1,243 shares of the business’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 completion of the transaction, the executive vice president now directly owns 34,757 shares in the company, valued at approximately $3,162,887. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its holdings in shares of Albemarle by 3,087.5% in the third quarter. Rehmann Capital Advisory Group now owns 255 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 247 shares during the period. Proficio Capital Partners LLC increased 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 valued at $27,000 after purchasing an additional 206 shares during the period. Pinnacle Bank acquired a new position in shares of Albemarle in the fourth quarter valued at approximately $27,000. First Quadrant L P CA acquired a new position in shares of Albemarle in the fourth quarter valued at approximately $31,000. Finally, Private Capital Group LLC increased its holdings in shares of Albemarle by 332.7% in the fourth quarter. Private Capital Group LLC now owns 424 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 326 shares during the period. 94.08% of the stock is currently owned by institutional investors and hedge funds.
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: Why are gap-down stocks important?
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.