Albemarle Co. (ALB) Expected to Announce Quarterly Sales of $791.46 Million

Equities research analysts predict that Albemarle Co. (NYSE:ALB) will report $791.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Albemarle’s earnings, with the highest sales estimate coming in at $811.00 million and the lowest estimate coming in at $777.00 million. Albemarle posted sales of $696.66 million in the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The business is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Albemarle will report full year sales of $791.46 million for the current year, with estimates ranging from $2.99 billion to $3.03 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.28 billion per share, with estimates ranging from $3.25 billion to $3.33 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Albemarle.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. Albemarle’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS.

Several equities analysts have issued reports on ALB shares. Robert W. Baird reissued a “hold” rating and issued a $135.00 price objective on shares of Albemarle in a research note on Wednesday, November 1st. UBS Group raised shares of Albemarle from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.00 to $150.00 in a research note on Tuesday, January 30th. Jefferies Group boosted their price objective on shares of Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Oppenheimer reissued a “buy” rating on shares of Albemarle in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $149.00 price objective on shares of Albemarle in a research note on Wednesday, October 18th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $127.88.

Several hedge funds and other institutional investors have recently modified their holdings of ALB. Thrivent Financial For Lutherans boosted its position in shares of Albemarle by 2.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,240 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 90 shares in the last quarter. Ark Investment Management LLC boosted its position in shares of Albemarle by 104.6% during the 2nd quarter. Ark Investment Management LLC now owns 6,368 shares of the specialty chemicals company’s stock worth $672,000 after purchasing an additional 3,255 shares in the last quarter. Numeric Investors LLC purchased a new stake in shares of Albemarle during the 2nd quarter worth $538,000. QS Investors LLC boosted its position in shares of Albemarle by 24.1% during the 2nd quarter. QS Investors LLC now owns 4,630 shares of the specialty chemicals company’s stock worth $489,000 after purchasing an additional 900 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Albemarle during the 2nd quarter worth $852,000. Institutional investors own 88.16% of the company’s stock.

Albemarle (NYSE:ALB) opened at $106.63 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The stock has a market cap of $11,780.00, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 1.38 and a beta of 1.56. Albemarle has a 12 month low of $90.35 and a 12 month high of $144.99.

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About Albemarle

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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