Shares of Albemarle Co. (NYSE:ALB – Get Free Report) have been given a consensus recommendation of “Hold” by the twenty-three research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $117.60.
A number of brokerages recently commented on ALB. Mizuho decreased their price objective on Albemarle from $128.00 to $103.00 in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on Albemarle from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup decreased their price objective on Albemarle from $137.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. KeyCorp decreased their price objective on Albemarle from $151.00 to $132.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased their target price on Albemarle from $115.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, August 19th.
Read Our Latest Report on Albemarle
Hedge Funds Weigh In On Albemarle
Albemarle Stock Up 1.1 %
NYSE ALB opened at $103.00 on Friday. The stock has a fifty day moving average of $87.73 and a 200-day moving average of $104.27. The stock has a market capitalization of $12.11 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 7.98 and a beta of 1.54. Albemarle has a 52 week low of $71.97 and a 52 week high of $177.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 2.67.
Albemarle (NYSE:ALB – Get Free Report) last released its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.49). Albemarle had a negative net margin of 6.72% and a positive return on equity of 6.38%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business posted $7.33 earnings per share. The firm’s quarterly revenue was down 39.7% on a year-over-year basis. On average, equities research analysts forecast that Albemarle will post 0.69 EPS for the current year.
Albemarle Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.405 dividend. This is an increase from Albemarle’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, September 13th. This represents a $1.62 annualized dividend and a dividend yield of 1.57%. Albemarle’s dividend payout ratio is presently 58.91%.
Albemarle Company Profile
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.
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