LyondellBasell Industries NV (LYB) to Release Quarterly Earnings on Friday
LyondellBasell Industries NV (NYSE:LYB) is scheduled to be announcing its earnings results before the market opens on Friday, July 28th. Analysts expect the company to announce earnings of $2.73 per share for the quarter.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by $0.36. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.59 billion. LyondellBasell Industries NV had a net margin of 11.67% and a return on equity of 60.80%. LyondellBasell Industries NV’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.48 EPS. On average, analysts expect LyondellBasell Industries NV to post $9.98 EPS for the current fiscal year and $9.06 EPS for the next fiscal year.
LyondellBasell Industries NV (LYB) traded down 0.45% during mid-day trading on Thursday, reaching $86.95. The company’s stock had a trading volume of 1,124,208 shares. The firm has a 50 day moving average price of $83.41 and a 200 day moving average price of $86.91. LyondellBasell Industries NV has a 52-week low of $71.55 and a 52-week high of $97.64. The company has a market cap of $35.02 billion, a price-to-earnings ratio of 9.95 and a beta of 1.05.
LyondellBasell Industries NV declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 24th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
A number of equities analysts have recently weighed in on LYB shares. Bank of America Corporation downgraded LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their target price for the stock from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research upgraded LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Tuesday, May 9th. Instinet cut their target price on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, May 1st. Citigroup Inc. restated an “overweight” rating on shares of LyondellBasell Industries NV in a research note on Friday, April 14th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $92.63.
COPYRIGHT VIOLATION NOTICE: “LyondellBasell Industries NV (LYB) to Release Quarterly Earnings on Friday” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/07/27/lyondellbasell-industries-nv-lyb-to-release-quarterly-earnings-on-friday.html.
About LyondellBasell Industries NV
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.
Receive News & Ratings for LyondellBasell Industries NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries NV and related companies with MarketBeat.com's FREE daily email newsletter.