At the time of writing, Albemarle Corp. [ALB] stock is trading at $133.20, down -6.72%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ALB shares have gain 9.61% over the last week, with a monthly amount glided 14.06%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, ALBEMARLE ANNOUNCES PROPOSED PUBLIC OFFERING OF DEPOSITARY SHARES. In a post published today on Yahoo Finance, Albemarle Corporation (NYSE: ALB) (“Albemarle” or the “Company”), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced that, subject to market and other conditions, it has commenced an offering (the “Offering”) of $1.75 billion of depositary shares (“Depositary Shares”), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock of the Company (“Preferred Stock”), in an underwritten registered public offering. In addition, Albemarle expects to grant the underwriters in the Offering a 30-day option to purchase up to an additional $262.5 million of Depositary Shares.
From an analyst’s perspective:
Previously, Citigroup downgraded its rating to Neutral on February 09, 2024, and dropped its price target to $120. On January 29, 2024, downgrade downgraded it’s rating to Market Perform and revised its price target to $130 on the stock. Deutsche Bank downgraded its rating to a Hold and decreased its price target to $135 on January 11, 2024. BofA Securities upgraded its rating to a Neutral and reduced its price target to $149 on December 12, 2023. Piper Sandler downgraded its rating to Underweight for this stock on December 05, 2023, and downed its price target to $128.
For the past year, the stock price of Albemarle Corp. fluctuated between $108.39 and $263.25. Currently, Wall Street analysts expect the stock to reach $247.8 within the next 12 months. Albemarle Corp. [NYSE: ALB] shares were valued at $133.20 at the most recent close of the market. An investor can expect a potential return of 86.04% based on the average ALB price forecast.
Analyzing the ALB fundamentals
According to Albemarle Corp. [NYSE:ALB], the company’s sales were 9.62B for trailing twelve months, which represents an -10.10% plunge. Gross Profit Margin for this corporation currently stands at 0.12% with Operating Profit Margin at 0.02%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.13%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.13 and Total Capital is 0.01. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.43.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 130.81 points at the first support level, and at 128.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 137.91, and for the 2nd resistance point, it is at 142.61.
Albemarle Corp. [ALB] reported earnings per share of $1.85 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.01/share, meaning a difference of $0.84 and a surprise factor of 83.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $2.74 per share as compared to estimates of $3.99 per share, a difference of -$1.25 representing a surprise of -31.30%.
Ratios To Look Out For
It is important to note that Albemarle Corp. [NYSE:ALB] has a current ratio of 1.47. Also, the Quick Ratio is 0.86, while the Cash Ratio stands at 0.25. Considering the valuation of this stock, the price to sales ratio is 1.63, the price to book ratio is 1.66 and price to earnings (TTM) ratio is 9.99.
Transactions by insiders
Recent insider trading involved Coleman Kristin M., EVP, General Counsel, that happened on Nov 07 when 1373.0 shares were purchased. President, Energy Storage, Norris Eric completed a deal on May 10 to buy 1260.0 shares. Meanwhile, Chairman & CEO Masters J Kent bought 5470.0 shares on May 05.
