Shares of Albemarle Co. (NYSE:ALB – Get Free Report) have earned an average recommendation of “Hold” from the twenty-three research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $117.10.
A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Albemarle from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Robert W. Baird downgraded shares of Albemarle from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $85.00 in a research note on Monday, August 5th. UBS Group cut their price objective on shares of Albemarle from $124.00 to $109.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. KeyCorp lowered their target price on shares of Albemarle from $151.00 to $132.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Scotiabank cut their price target on Albemarle from $135.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 6th.
Get Our Latest Analysis on Albemarle
Institutional Inflows and Outflows
Albemarle Price Performance
Shares of ALB stock opened at $86.03 on Monday. Albemarle has a 1 year low of $71.97 and a 1 year high of $177.52. The company has a current ratio of 2.67, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $86.91 and its 200-day moving average is $106.63. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 8.03 and a beta of 1.54.
Albemarle (NYSE:ALB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.04 earnings per share (EPS) 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 analyst estimates of $1.34 billion. Albemarle had a positive return on equity of 6.38% and a negative net margin of 6.72%. The firm’s quarterly revenue was down 39.7% compared to the same quarter last year. During the same period in the prior year, the company posted $7.33 EPS. Sell-side analysts forecast that Albemarle will post 0.69 EPS for the current fiscal year.
Albemarle Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.405 dividend. This is a positive change from Albemarle’s previous quarterly dividend of $0.40. This represents a $1.62 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, September 13th. Albemarle’s 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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