Albemarle Corp. (NYSE:ALB) shares, rose in value, with the stock price up by 1.92% to the previous day’s close as strong demand from buyers drove the stock to $123.45.
Actively observing the price movement in the last trading, the stock closed the session at $121.12. The value of beta (5-year monthly) was 1.65 whereas the PE ratio was 9.26 over 12-month period. Referring to stock’s 52-week performance, its high was $247.44, and the low was $106.69. On the whole, ALB has fluctuated by 3.23% over the past month.
With the market capitalization of Albemarle Corp. currently standing at about $14.51 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024. The company’s Forward Dividend Ratio is 1.60, with its dividend yield at 1.30%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.26, which is expected to increase to $1.61 for fiscal year $3.79 and then to about $9.12 by fiscal year 2025. Data indicates that the EPS growth is expected to be -83.00% in 2025, while the next year’s EPS growth is forecast to be 140.60%.
Analysts have estimated the company’s revenue for the quarter at $1.27 billion, with a low estimate of $1.01 billion and a high estimate of $1.49 billion. According to the average forecast, sales growth in current quarter could jump down -53.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.87 billion, representing a decrease of -39.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ALB’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ALB currently trading nearly -0.30% and 1.58% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.35, while the 7-day volatility ratio is showing 4.48% which for the 30-day chart, stands at 4.44%. Furthermore, Albemarle Corp. (ALB)’s beta value is 1.65, and its average true range (ATR) is 6.20.
A comparison of Albemarle Corp. (ALB) with its peers suggests the former has fared considerably weaker in the market. ALB showed an intraday change of 1.92% in last session, and over the past year, it shrunk by -41.09%%.
Data on historical trading for Albemarle Corp. (NYSE:ALB) indicates that the trading volumes over the past 10 days have averaged 2.76 million and over the past 3 months, they’ve averaged 3.45 million. According to company’s latest data on outstanding shares, there are 117.36 million shares outstanding.
Nearly 0.42% of Albemarle Corp.’s shares belong to company insiders and institutional investors own 95.13% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.13 million shares as on Mar 15, 2024, resulting in a short ratio of 2.9. According to the data, the short interest in Albemarle Corp. (ALB) stood at 12.03% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 12.15 million. The stock has fallen by -14.56% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ALB stock heading into the next quarter.
