Wall Street brokerages forecast that LyondellBasell Industries NV (NYSE:LYB) will announce sales of $8.33 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for LyondellBasell Industries NV’s earnings, with estimates ranging from $8.15 billion to $8.46 billion. LyondellBasell Industries NV posted sales of $7.37 billion in the same quarter last year, which suggests a positive year over year growth rate of 13%. The business is expected to report its next earnings results on Tuesday, November 7th.

On average, analysts expect that LyondellBasell Industries NV will report full-year sales of $8.33 billion for the current financial year, with estimates ranging from $29.09 billion to $35.08 billion. For the next financial year, analysts expect that the firm will post sales of $32.67 billion per share, with estimates ranging from $31.28 billion to $34.50 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for LyondellBasell Industries NV.

LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. LyondellBasell Industries NV’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.56 earnings per share.

A number of equities analysts have recently weighed in on LYB shares. 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. HSBC Holdings plc started coverage on LyondellBasell Industries NV in a research note on Monday, June 26th. They set a “buy” rating and a $101.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a research note on Friday, July 14th. Finally, BidaskClub upgraded LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. LyondellBasell Industries NV presently has a consensus rating of “Hold” and a consensus price target of $94.81.

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Shares of LyondellBasell Industries NV (NYSE:LYB) opened at 88.78 on Monday. The firm has a market cap of $35.14 billion, a price-to-earnings ratio of 9.91 and a beta of 1.06. LyondellBasell Industries NV has a 52 week low of $71.55 and a 52 week high of $97.64. The company has a 50-day moving average price of $84.36 and a 200 day moving average price of $86.92.

LyondellBasell Industries NV announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 24th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Several large investors have recently modified their holdings of LYB. Harbour Capital Advisors LLC acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $107,000. TrimTabs Asset Management LLC increased its stake 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 worth $124,000 after buying an additional 640 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $132,000. American Beacon Advisors Inc. acquired a new stake in shares of LyondellBasell Industries NV during the first quarter worth $161,000. Finally, Seven Bridges Advisors LLC increased its stake 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 worth $163,000 after buying an additional 478 shares in the last quarter. 73.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for LyondellBasell Industries NV (NYSE:LYB)

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