Albemarle Corporation (NYSE:ALB) is reporting third quarter financial results on Wednesday 4th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, ALB is expected to report 3Q20 income of $ 0.78 per share from revenue of $ 739.60 million.
For the full year, analysts anticipate top line of $ 3036.90 million, while looking forward to income of $ 3.52 per share bottom line.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 700.00 million ~ $ 775.00 million
Full Year 2020 topline are forecasted in a range of$ 3,480.00 million ~ $ 3,530.00 million, where as bottomline are predicted in a range of $ 4.80 ~ $ 5.10 per share
Click Here For More Historical Outlooks Of Albemarle Corporation
Previous Quarter Performance
Albemarle Corporation unwinded income for the second quarter of $ 0.86 per share, from the revenue of $ 764.05 million. Street analysts expected Albemarle Corporation to report income of $ 0.73 per share on revenue of $ 709.85 million for the second quarter. The bottom line results beat street analysts by $ 0.13 or 17.81 percent, at the same time, top line results outshined analysts by $ 54.20 million or 7.64 percent.
Stock Performance
Shares of Albemarle Corporation traded up $ 0.78 or 0.81 percent on Tuesday, reaching $ 97.62 with volume of 950.90 thousand shares. Albemarle Corporation has traded high as $ 98.28 and has cracked $ 96.34 on the downward trend
According to the previous trading day, closing price of $ 97.62, representing a 98.08 % increase from the 52 week low of $ 48.89 and a 4.12 % decrease over the 52 week high of $ 101.00.
The company has a market capital of $ 10.38 billion and is part of the Basic Materials sector and Specialty Chemicals industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Wells Fargo & Co at Equal-Weight rating, with $ 100.00 target price.
- On 14th October 2020, downgraded by RBC Capital to Underperform from Sector Perform rating, with $ 78.00 target price.
- On 6th October 2020, maintained by UBS Group at Buy rating, with $ 105.00 target price.
- On 22nd September 2020, initiated by Evercore ISI at Underperform rating, with $ 86.00 target price.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets. It also offers cesium products for the chemical and pharmaceutical industries; zirconium, barium, and titanium products for various pyrotechnical applications; technical services, such as the handling and use of reactive lithium products; and recycling services for lithium-containing by-products.
