Brokers Issue Forecasts for LyondellBasell Industries NV’s Q3 2017 Earnings (LYB)
LyondellBasell Industries NV (NYSE:LYB) – Analysts at Jefferies Group lowered their Q3 2017 earnings estimates for shares of LyondellBasell Industries NV in a note issued to investors on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings per share of $2.40 for the quarter, down from their previous forecast of $2.51. Jefferies Group currently has a “Hold” rating and a $95.00 target price on the stock.
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 for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $2.56 EPS. ILLEGAL ACTIVITY NOTICE: “Brokers Issue Forecasts for LyondellBasell Industries NV’s Q3 2017 Earnings (LYB)” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2017/10/11/brokers-issue-forecasts-for-lyondellbasell-industries-nvs-q3-2017-earnings-lyb.html.
LYB has been the subject of several other research reports. 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. Cowen and Company reiterated a “hold” rating and set a $90.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, October 4th. UBS AG reiterated a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of LyondellBasell Industries NV in a research note on Sunday, June 25th. HSBC Holdings plc began coverage on shares of LyondellBasell Industries NV in a research note on Monday, June 26th. They set a “buy” rating and a $101.00 target price for the company. Finally, 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $94.80.
LyondellBasell Industries NV (LYB) opened at 98.06 on Wednesday. LyondellBasell Industries NV has a 1-year low of $76.71 and a 1-year high of $100.74. The stock has a market cap of $38.81 billion, a price-to-earnings ratio of 10.95 and a beta of 1.04. The firm’s 50 day moving average price is $94.78 and its 200-day moving average price is $87.30.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.67%. LyondellBasell Industries NV’s dividend payout ratio is currently 40.18%.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Harbour Capital Advisors LLC purchased a new position in LyondellBasell Industries NV during the first quarter worth about $107,000. Point72 Asia Hong Kong Ltd purchased a new position in LyondellBasell Industries NV during the first quarter worth about $132,000. American Beacon Advisors Inc. purchased a new position in LyondellBasell Industries NV during the first quarter worth about $161,000. Seven Bridges Advisors LLC raised its holdings in LyondellBasell Industries NV by 32.8% during the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after purchasing an additional 478 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC raised its holdings in LyondellBasell Industries NV by 4.9% during the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 100 shares in the last quarter. 73.81% of the stock is owned by hedge funds and other institutional investors.
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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