Albemarle (NYSE:ALB) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.10-6.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.14. The company issued revenue guidance of $3.65-3.85 billion, compared to the consensus revenue estimate of $3.64 billion.
Shares of Albemarle stock traded down $0.32 during trading on Wednesday, hitting $82.81. 1,765,236 shares of the company’s stock were exchanged, compared to its average volume of 1,521,320. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.83 and a quick ratio of 1.18. Albemarle has a 52-week low of $71.89 and a 52-week high of $118.83. The stock has a market cap of $8.83 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.82 and a beta of 1.60.
Several research firms recently commented on ALB. HSBC upgraded shares of Albemarle from a hold rating to a buy rating and set a $112.50 price target on the stock in a research report on Monday, December 10th. Nomura lowered shares of Albemarle from a buy rating to a neutral rating and dropped their price target for the company from $90.00 to $85.00 in a research report on Tuesday, January 15th. Loop Capital dropped their target price on shares of Albemarle to $112.00 and set a buy rating on the stock in a research report on Friday, January 18th. They noted that the move was a valuation call. Berenberg Bank lowered shares of Albemarle from a buy rating to a hold rating and dropped their target price for the company from $120.00 to $78.11 in a research report on Thursday, January 3rd. Finally, ValuEngine lowered shares of Albemarle from a sell rating to a strong sell rating in a research report on Wednesday, January 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $108.76.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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.
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