Here's Why Albemarle Rose as Much as 11.6% Today
Shares of Albemarle (NYSE: ALB) rose over 11% today after the company reported fourth-quarter and full-year 2019 operating results. The world's largest lithium producer actually missed Wall Street expectations on both revenue and adjusted earnings per share (EPS) during the fourth quarter. It also issued full-year 2020 guidance that expects revenue, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), and adjusted EPS to fall compared to 2019 results.
The nuance here is that the misses aren't that important in the grand scheme of things. Also, Albemarle had been handed an unsustainably low valuation after shares tumbled throughout 2018 and 2019. Investors have recently picked up on that and have boosted shares by nearly 30% since the beginning of 2020.
As of 2:39 p.m. EST, the dividend stock had settled to a 6.3% gain.
Source Fool.com
