Analysts forecast that LyondellBasell Industries NV (NYSE:LYB) will post sales of $9.55 billion for the current quarter, according to Zacks. Three analysts have made estimates for LyondellBasell Industries’ earnings, with the highest sales estimate coming in at $10.34 billion and the lowest estimate coming in at $8.38 billion. LyondellBasell Industries reported sales of $8.52 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The business is expected to announce its next quarterly earnings report on Friday, October 26th.
On average, analysts expect that LyondellBasell Industries will report full-year sales of $38.32 billion for the current financial year, with estimates ranging from $35.65 billion to $41.38 billion. For the next financial year, analysts expect that the business will report sales of $39.78 billion, with estimates ranging from $32.02 billion to $43.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow LyondellBasell Industries.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.44. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $9.11 billion. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Monday. BNP Paribas assumed coverage on shares of LyondellBasell Industries in a research note on Tuesday, October 2nd. They issued an “outperform” rating and a $129.00 target price on the stock. JPMorgan Chase & Co. cut shares of LyondellBasell Industries from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $110.00 to $95.00 in a research note on Wednesday, September 19th. Citigroup cut shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $109.00 in a research note on Monday, September 17th. Finally, Cowen lowered their target price on shares of LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating on the stock in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $116.66.
NYSE LYB traded up $0.72 on Wednesday, reaching $104.22. The company’s stock had a trading volume of 1,929,800 shares, compared to its average volume of 2,252,220. The stock has a market cap of $39.91 billion, a P/E ratio of 10.14, a PEG ratio of 0.92 and a beta of 1.14. LyondellBasell Industries has a 52 week low of $96.19 and a 52 week high of $121.95. The company has a quick ratio of 1.51, a current ratio of 2.27 and a debt-to-equity ratio of 0.71.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Wednesday, September 5th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $4.00 annualized dividend and a yield of 3.84%. LyondellBasell Industries’s dividend payout ratio is 39.10%.
A number of institutional investors have recently modified their holdings of LYB. First Republic Investment Management Inc. grew its stake in LyondellBasell Industries by 101.2% during the second quarter. First Republic Investment Management Inc. now owns 677,904 shares of the specialty chemicals company’s stock worth $74,467,000 after buying an additional 55,533,112 shares during the last quarter. PointState Capital LP grew its stake in LyondellBasell Industries by 80.3% during the first quarter. PointState Capital LP now owns 2,637,092 shares of the specialty chemicals company’s stock worth $278,688,000 after buying an additional 1,174,259 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in LyondellBasell Industries by 102.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,435,668 shares of the specialty chemicals company’s stock worth $157,708,000 after buying an additional 726,524 shares during the last quarter. Morgan Stanley grew its stake in LyondellBasell Industries by 9.9% during the second quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock worth $506,075,000 after buying an additional 413,346 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in LyondellBasell Industries by 28.0% during the second quarter. American Century Companies Inc. now owns 1,418,048 shares of the specialty chemicals company’s stock worth $155,773,000 after buying an additional 310,552 shares during the last quarter. 72.61% of the stock is currently owned by hedge funds and other institutional investors.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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