Albemarle Corporation to Issue Quarterly Dividend of $0.41 (NYSE:ALB)
Albemarle Corporation (NYSE:ALB) has declared a quarterly dividend of $0.41, payable on January 2nd to stockholders of record as of December 12th. The annualized dividend yield is 1.7%. The company has a payout ratio of 216.0%, indicating reliance on its balance sheet for dividend payments. Analysts expect Albemarle to earn $1.91 per share next year, suggesting a future payout ratio of 84.8%. The stock opened at $96.18, with a market cap of $11.32 billion and a consensus rating of "Hold" from analysts.
Albemarle Corporation (NYSE:ALB - Get Free Report) declared a quarterly dividend on Monday, October 27th. Stockholders of record on Friday, December 12th will be given a dividend of 0.405 per share by the specialty chemicals company on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, December 12th.
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Albemarle has a payout ratio of 216.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Albemarle to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 84.8%.
Albemarle Trading Down 9.0%
ALB opened at $96.18 on Tuesday. The stock has a market cap of $11.32 billion, a PE ratio of -10.32 and a beta of 1.65. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $85.78 and a 200-day moving average of $71.78. Albemarle has a 52 week low of $49.43 and a 52 week high of $113.91.
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Albemarle (NYSE:ALB - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.94. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.23 billion. Albemarle had a negative return on equity of 1.87% and a negative net margin of 18.61%.The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. Albemarle has set its FY 2025 guidance at EPS. Equities research analysts predict that Albemarle will post -0.04 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
ALB has been the subject of a number of research analyst reports. Bank of America restated a "neutral" rating and issued a $100.00 target price (up previously from $95.00) on shares of Albemarle in a research note on Tuesday, October 14th. Wells Fargo & Company raised their price objective on Albemarle from $70.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 15th. Wall Street Zen raised Albemarle from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. UBS Group reduced their price objective on Albemarle from $89.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Finally, Jefferies Financial Group raised their price objective on Albemarle from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.33.
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Read Our Latest Report on ALB
Albemarle Company Profile
(Get Free Report)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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