What is Scotiabank’s Estimate for Albemarle Q4 Earnings?

Albemarle Co. (NYSE:ALB) – Equities researchers at Scotiabank issued their Q4 2024 earnings per share (EPS) estimates for shares of Albemarle in a research note issued to investors on Monday, November 11th. Scotiabank analyst B. Isaacson anticipates that the specialty chemicals company will earn ($0.52) per share for the quarter. Scotiabank currently has a “Sector Perform” rating and a $85.00 target price on the stock. The consensus estimate for Albemarle’s current full-year earnings is ($0.52) per share.

A number of other research firms have also recently commented on ALB. Piper Sandler lowered their price objective on shares of Albemarle from $95.00 to $90.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. Bank of America lowered their price objective on shares of Albemarle from $135.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Mizuho lowered their price objective on shares of Albemarle from $128.00 to $103.00 in a research report on Wednesday, July 31st. Robert W. Baird lowered their target price on Albemarle from $85.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada increased their target price on Albemarle from $108.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $114.47.

Albemarle Price Performance

ALB opened at $102.11 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 2.44 and a debt-to-equity ratio of 0.43. Albemarle has a 12 month low of $71.97 and a 12 month high of $153.54. The company has a fifty day simple moving average of $94.99 and a 200 day simple moving average of $100.22. The stock has a market cap of $12.00 billion, a P/E ratio of -6.10 and a beta of 1.55.

Institutional Investors Weigh In On Albemarle

Hedge funds have recently bought and sold shares of the company. First Community Trust NA acquired a new stake in Albemarle in the 2nd quarter valued at about $25,000. CVA Family Office LLC lifted its position in Albemarle by 610.0% during the second quarter. CVA Family Office LLC now owns 284 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 244 shares during the last quarter. Eastern Bank acquired a new stake in Albemarle during the third quarter worth approximately $31,000. Cromwell Holdings LLC lifted its position in Albemarle by 61.9% during the third quarter. Cromwell Holdings LLC now owns 387 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 148 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its position in Albemarle by 100.0% during the third quarter. Cornerstone Advisors LLC now owns 400 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.59%. Albemarle’s dividend payout ratio is -9.67%.

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.