Albemarle (ALB) Scheduled to Post Quarterly Earnings on Wednesday

Albemarle (NYSE:ALB) is scheduled to be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.49). The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. Albemarle’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.33 EPS. On average, analysts expect Albemarle to post $0 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Albemarle Stock Down 1.5 %

Shares of ALB stock opened at $96.65 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.67 and a quick ratio of 1.75. Albemarle has a one year low of $71.97 and a one year high of $153.54. The company’s fifty day moving average price is $91.90 and its 200-day moving average price is $101.18. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of -20.43, a PEG ratio of 13.81 and a beta of 1.54.

Albemarle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.68%. Albemarle’s dividend payout ratio is presently -34.25%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALB. Evercore ISI cut their target price on Albemarle from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. Baird R W lowered shares of Albemarle from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Mizuho lowered their target price on shares of Albemarle from $128.00 to $103.00 in a report on Wednesday, July 31st. Piper Sandler cut their target price on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer decreased their price target on shares of Albemarle from $188.00 to $178.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albemarle has an average rating of “Hold” and a consensus target price of $117.30.

About Albemarle

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.