Seaport Global Securities Weighs in on Albemarle Corporation’s FY2017 Earnings (ALB)
Albemarle Corporation (NYSE:ALB) – Investment analysts at Seaport Global Securities boosted their FY2017 earnings estimates for Albemarle Corporation in a research note issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $4.49 for the year, up from their prior estimate of $4.40. Seaport Global Securities also issued estimates for Albemarle Corporation’s Q4 2017 earnings at $1.23 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.28 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.37 EPS and FY2018 earnings at $5.25 EPS.
Albemarle Corporation (NYSE:ALB) last issued its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. Albemarle Corporation had a return on equity of 11.61% and a net margin of 30.07%. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $732.19 million. During the same period in the previous year, the firm posted $0.91 earnings per share. Albemarle Corporation’s quarterly revenue was up 15.4% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.thecerbatgem.com/2017/11/23/seaport-global-securities-weighs-in-on-albemarle-corporations-fy2017-earnings-alb.html.
A number of other equities analysts also recently commented on the company. Deutsche Bank AG downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Jefferies Group LLC lifted their price target on Albemarle Corporation from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Nomura lifted their price target on Albemarle Corporation to $159.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Royal Bank Of Canada lifted their price target on Albemarle Corporation from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, UBS AG lifted their price target on Albemarle Corporation from $123.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Albemarle Corporation presently has a consensus rating of “Buy” and a consensus target price of $128.45.
Albemarle Corporation (NYSE ALB) opened at $135.25 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. Albemarle Corporation has a 52 week low of $83.04 and a 52 week high of $144.99. The company has a market capitalization of $15,104.75, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 2.07 and a beta of 1.72.
A number of large investors have recently made changes to their positions in the stock. Carroll Financial Associates Inc. raised its holdings in Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after purchasing an additional 3 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Albemarle Corporation by 0.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 4 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Albemarle Corporation by 0.5% in the second quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Albemarle Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock valued at $486,000 after buying an additional 12 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Albemarle Corporation by 2.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 20 shares in the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.28 annualized dividend and a yield of 0.95%. Albemarle Corporation’s payout ratio is 16.56%.
About Albemarle Corporation
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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