Q4 Earnings Forecast for Albemarle Issued By Scotiabank

Albemarle Co. (NYSE:ALB) – Research analysts at Scotiabank issued their Q4 2024 EPS estimates for Albemarle in a report released on Monday, November 11th. Scotiabank analyst B. Isaacson expects that the specialty chemicals company will post earnings per share of ($0.52) for the quarter. Scotiabank has a “Sector Perform” rating and a $85.00 price target on the stock. The consensus estimate for Albemarle’s current full-year earnings is ($0.04) per share.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Albemarle from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Hsbc Global Res upgraded shares of Albemarle to a “hold” rating in a report on Wednesday, July 17th. HSBC lowered shares of Albemarle from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Piper Sandler dropped their price objective on Albemarle from $95.00 to $90.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $114.47.

Albemarle Stock Performance

NYSE:ALB opened at $102.90 on Wednesday. The firm has a market capitalization of $12.09 billion, a PE ratio of -6.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.44 and a quick ratio of 1.75. The business’s fifty day moving average price is $94.13 and its 200 day moving average price is $100.15. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54.

Albemarle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, December 13th. Albemarle’s dividend payout ratio is currently -9.67%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Albemarle by 239.7% during the second quarter. SG Americas Securities LLC now owns 53,793 shares of the specialty chemicals company’s stock valued at $5,138,000 after purchasing an additional 37,958 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Albemarle by 22.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 190,526 shares of the specialty chemicals company’s stock valued at $25,100,000 after buying an additional 35,003 shares during the last quarter. MBB Public Markets I LLC raised its stake in Albemarle by 392.6% during the second quarter. MBB Public Markets I LLC now owns 7,916 shares of the specialty chemicals company’s stock worth $756,000 after acquiring an additional 6,309 shares during the period. Vest Financial LLC boosted its stake in Albemarle by 32.4% in the third quarter. Vest Financial LLC now owns 521,537 shares of the specialty chemicals company’s stock valued at $49,395,000 after acquiring an additional 127,549 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Albemarle during the first quarter valued at approximately $202,000. Institutional investors own 92.87% of the company’s stock.

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.