Albemarle (ALB) Scales New 52-Week High on Bright Prospects
Shares of chemicals maker Albemarle ALB scaled a fresh 52-week high of $112.82 yesterday, before pulling back to close the day at $112.05.
Albemarle has a market cap of roughly $12.4 billion and average volume of shares traded in the last three months is around 1,053.7K. The company has an expected long-term EPS growth of around 14.5%.
Albemarle has significantly outperformed the Zacks categorized Chemicals-Diversified industry over a year, partly reflecting its forecast-topping earnings performance and its strategic growth initiatives. The company’s shares have gained around 47.1% over this period, compared with roughly 17.5% gain recorded by the industry.
Driving Factors
Albemarle's adjusted earnings of $1.05 per share for first-quarter 2017 topped the Zacks Consensus Estimate of 95 cents. Revenues of $722.1 million also beat the Zacks Consensus Estimate of $678.7 million..
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