Albemarle (ALB) Expected to Announce Earnings on Wednesday

Albemarle (NYSE:ALB) is expected to post its quarterly earnings results after the market closes on Wednesday, February 12th. Analysts expect Albemarle to post earnings of ($0.60) per share and revenue of $1.34 billion for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Albemarle Stock Up 2.5 %

Shares of Albemarle stock opened at $82.48 on Wednesday. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of -4.92, a PEG ratio of 3.65 and a beta of 1.59. Albemarle has a twelve month low of $71.97 and a twelve month high of $143.19. The company has a current ratio of 2.44, a quick ratio of 1.58 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $93.66 and its 200-day simple moving average is $93.11.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho dropped their target price on Albemarle from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on shares of Albemarle from $108.00 to $133.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. KeyCorp decreased their target price on shares of Albemarle from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on Albemarle from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Clarkson Capital began coverage on Albemarle in a report on Tuesday, January 14th. They issued a “buy” rating and a $112.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Albemarle has an average rating of “Hold” and a consensus price target of $113.95.

Insider Transactions at Albemarle

In related news, CEO J Kent Masters sold 2,525 shares of Albemarle stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $101.12, for a total value of $255,328.00. Following the transaction, the chief executive officer now directly owns 73,747 shares in the company, valued at $7,457,296.64. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

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.