Albemarle (ALB) Issues FY 2019 Earnings Guidance

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.

In related news, EVP Karen G. Narwold sold 1,295 shares of the business’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $74.76, for a total transaction of $96,814.20. Following the transaction, the executive vice president now directly owns 31,028 shares in the company, valued at $2,319,653.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karen G. Narwold sold 3,100 shares of the business’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $96.54, for a total transaction of $299,274.00. Following the transaction, the executive vice president now owns 27,142 shares in the company, valued at $2,620,288.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,738 shares of company stock worth $645,309. Company insiders own 0.80% of the company’s stock.

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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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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