Albemarle Corporation (NYSE:ALB) posted earnings of $1.09 per share for the last fiscal quarter, which ended on 2016-06-30. The reported number was $0.09 away from the Zacks consensus estimate, which was calculated just prior to the earnings announcement. This yielded a 9% surprise factor.
Publicly traded companies often feel immense pressure to meet or beat consensus earnings estimates each quarter. When a company does so consistently, executives and investors are often rewarded by a higher share price. On the other hand, when a company regularly misses Street expectations, the stock is often punished.
According to the latest available information Albemarle Corporation (NYSE:ALB) is expected to issue its next quarterly earnings announcement on or around 2016-11-07. Research firms polled by Zacks are expecting the earnings per share of $0.92 for the quarter. This number is based on the 10 sell-side analysts polled by Zacks.
Buy-side institutions and retail investors alike will be closely monitoring the direction of this estimate and the revisions as the earnings date approaches.
Stock Targets
Wall Street analysts covering the stock, on a consensus basis, have a one-year price target of $85.2 on the equity. This is based on the 10 individual recommendations by the firms tracked by Zacks. The most aggressive target sees the stock headed to $102 while the most bearish has a $60 target.
Zacks also uses a method in order to simplify the various recommendations into a 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell. Shares of Albemarle Corporation (NYSE:ALB) currently have an average broker rating of 2.2. Three months ago when the same analysts were polled, the ABR was at 2.2.
http://www.stocksdaily.net/will-albemarle-corporation-nysealb-surprise-analysts-this-quarter-8/135945/