Albemarle Corp. (NYSE:ALB) traded at $124.82 at last check on Monday, April 29, made an upward move of 6.79% on its previous day’s price.
Looking at the stock we see that its previous close was $116.88. The company has a trailing 12-month PE ratio of 9.36. In terms of its 52-week price range, ALB has a high of $247.44 and a low of $106.69. The company’s stock has lost about -5.25% over that past 30 days.
Albemarle Corp. has a market cap of $14.67 billion. With its Forward Dividend at 1.60 and a yield of 1.28%, the company’s investors could be anxious for the ALB stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.27, with the EPS growth for the year raised at $3.97 for 2024 and $8.9 for next year. These figures represent -82.20% and 124.20% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.31 billion, with a low of $1.13 billion and a high of $1.5 billion. The median projection represents growth adding up to -52.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $5.97 billion, or -37.90% down from figures reported last year.
On the other hand, looking at the outlook for the ALB stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note the current price level is 3.28% off its SMA20 and 1.89% from its 50-day simple moving average. The RSI (14) is pointing at 55.70 while the volatility over the past week is 4.04% and jumps to 4.48% over the past one month. The beta value is 1.66, while the average true range (ATR) is currently pointing at 5.68.
Coming back to Albemarle Corp. (NYSE:ALB), we note that the average 3-month trading volume was 3.40 million. Current shares outstanding are 117.36 million.
The insiders hold 0.43% of the company’s shares while institutions hold 94.91%. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -13.61% down in year-to-date price movement.
