LyondellBasell Industries NV (LYB) Expected to Announce Earnings of $2.57 Per Share
Wall Street analysts expect that LyondellBasell Industries NV (NYSE:LYB) will announce earnings of $2.57 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for LyondellBasell Industries NV’s earnings. The highest EPS estimate is $2.70 and the lowest is $2.49. LyondellBasell Industries NV posted earnings of $2.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is scheduled to announce its next earnings report before the market opens on Friday, October 27th.
According to Zacks, analysts expect that LyondellBasell Industries NV will report full-year earnings of $9.97 per share for the current fiscal year, with EPS estimates ranging from $9.70 to $10.20. For the next fiscal year, analysts anticipate that the firm will report earnings of $9.00 per share, with EPS estimates ranging from $8.30 to $10.35. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow LyondellBasell Industries NV.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same period in the prior year, the company earned $2.56 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year.
A number of analysts recently weighed in on LYB shares. Jefferies Group LLC restated a “hold” rating and issued a $88.00 price target on shares of LyondellBasell Industries NV in a research note on Friday, June 16th. UBS AG reaffirmed a “neutral” rating and set a $85.00 price objective (down from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. HSBC Holdings plc assumed coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price objective for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $110.00 price objective on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. Finally, BidaskClub raised LyondellBasell Industries NV from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $95.67.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. Harbour Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries NV in the first quarter worth $107,000. TrimTabs Asset Management LLC grew its position in shares of LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after purchasing an additional 640 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of LyondellBasell Industries NV in the first quarter valued at $132,000. American Beacon Advisors Inc. purchased a new stake in shares of LyondellBasell Industries NV in the first quarter valued at $161,000. Finally, Seven Bridges Advisors LLC grew its position in shares of LyondellBasell Industries NV by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after purchasing an additional 478 shares during the period. 73.82% of the stock is owned by institutional investors.
LyondellBasell Industries NV (NYSE LYB) traded up 2.25% on Monday, reaching $93.66. The company had a trading volume of 2,426,244 shares. The company’s 50-day moving average is $88.96 and its 200-day moving average is $86.19. LyondellBasell Industries NV has a 52-week low of $74.02 and a 52-week high of $97.64. The company has a market capitalization of $37.07 billion, a PE ratio of 10.46 and a beta of 1.04.
LyondellBasell Industries NV declared that its board has authorized a share buyback program on Wednesday, May 24th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th will be issued a $0.90 dividend. The ex-dividend date is Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.84%. LyondellBasell Industries NV’s dividend payout ratio (DPR) is 40.18%.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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