The ALB stock’s dividend yield for the TTM is 1.00% and its last dividend payment was $0.40 per share. The last ex-dividend date was September 14th, 2023 and its payout ratio is 43.42%.
ALB stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $19.11 Billion and total liabilities of $9.02 Billion. The ALB debt-to-assets ratio is at 47.21%.
Furthermore, Albemarle Corporation’s latest quarterly earnings report for the period ending June 2023, displayed a revenue of $2.37 Billion, with a net income of $650.04 Million. It also showed a loss in profit margin from the last quarter of 27.43%. This quarter, the reported revenue missed analysts’ estimates by $46.825 Million (1.94%).
The ALB stock reported an EPS of $7.33 for the period ending June 2023, beating the analysts’ estimate of $4.481 by 63.59%. The next quarter’s revenue is estimated to be $2.6 Billion and an estimated EPS of $3.865. The report will be released on November 1st, 2023.
ALB Stock Price Technical Analysis in 1-D Timeframe
The ALB stock has a CMP of $155.75 and an intraday loss of 2.56%. The ALB stock’s average volume for the last 10 days is 1.927 Million and its current volume is 2.607 Million. The ALB stock has a share float of 117.006 Million shares and a market cap of $18.277 Billion.
ALB stock price rose from the $48 support level in March 2020 when the pandemic started and the company was a great help to vaccine development as it belongs to the chemical industry. The price reached a high of $334 in November 2022, making higher highs and lows as people trusted the company.
However, the price faced resistance and started to drop. The investors took profits that they had accumulated in the last couple of years and the stock failed to recover and made new lows on every attempt.
ALB stock had some setbacks and constant selling pressure and could not overcome them. It showed poor performance by declining downwards in the last 52 weeks. The stock is now at the major support of $150 and trying to hold at an order block where the price had a previous spike.
If the Albemarle stock manages to gain strong buying momentum and surges above the swing high, it can trigger a rally and the probable resistance levels are between $165 and $175.
Alternatively, if the stock continues to fall and breaks below $150, then it could fall up to $140.
At the time of publishing, the price of Albemarle Corporation (NYSE: ALB) has found support and is trying to sustain, despite the bearish trend of the major EMAs. If more buying volume surges, the ALB price will kick out the rejecting EMAs.
The MACD indicates a bearish cross but the gap is narrowing and a bullish cross may occur soon. The RSI is at 31 and has bounced off the 14 SMA. The indicators suggest some bullish signs on the charts in ALB price.
Moreover, the ALB stock ratings are positive and highly recommended based on 28 analysts who have evaluated the stock in the last three months. The 1-year price forecast for the stock by 25 analysts ranges between $155.00 to $344.00.
Summary
Albemarle Corporation (NYSE: ALB) chart indicates that the traders and investors of the stock price are bullish and positive on the 1-D time frame. The ALB price action shows a bullish outlook at the time of publishing. The technical analysis tools of Albemarle stock price highlight upward signals and support bullishness.
Technical Levels
Support Levels: $150 and $140
Resistance Levels: $165 and $175
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/10/alb-stock-forecast-will-nyse-alb-price-surge-upwards-soon/