LyondellBasell Industries NV (LYB) Rating Lowered to Hold at Zacks Investment Research
LyondellBasell Industries NV (NYSE:LYB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “LyondellBasell’s adjusted earnings for third-quarter 2017 missed the Zacks Consensus Estimate while sales beat. The company expects global markets to remain tight to balanced for the remainder of 2017. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns. However, LyondellBasell continues to face certain operation issues. Its operations remain subject to outages which is affecting its results. The company also faces headwind from Hurricane Harvey, which is expected to impact its fourth-quarter results. It also faces pricing pressure. “
Several other research firms have also weighed in on LYB. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Cowen and Company reissued a “hold” rating and issued a $90.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, October 4th. HSBC Holdings plc lowered shares of LyondellBasell Industries NV from a “buy” rating to a “hold” rating and set a $101.00 target price for the company. in a report on Tuesday, October 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Finally, UBS AG upped their target price on shares of LyondellBasell Industries NV from $88.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. LyondellBasell Industries NV has a consensus rating of “Hold” and a consensus price target of $99.31.
Shares of LyondellBasell Industries NV (NYSE LYB) traded down 1.69% on Tuesday, hitting $104.21. 1,857,052 shares of the stock traded hands. LyondellBasell Industries NV has a 52-week low of $76.71 and a 52-week high of $107.83. The stock has a market cap of $41.25 billion, a P/E ratio of 11.63 and a beta of 1.04. The stock’s 50 day moving average price is $98.17 and its 200 day moving average price is $88.33.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.14. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.32% and a return on equity of 58.13%. LyondellBasell Industries NV’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business earned $2.56 EPS. On average, equities analysts expect that LyondellBasell Industries NV will post $10.01 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC acquired a new stake in LyondellBasell Industries NV in the first quarter valued at $107,000. Point72 Asia Hong Kong Ltd acquired a new stake in LyondellBasell Industries NV in the first quarter valued at $132,000. American Beacon Advisors Inc. acquired a new stake in LyondellBasell Industries NV in the first quarter valued at $161,000. Seven Bridges Advisors LLC lifted its holdings in 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 acquiring an additional 478 shares during the period. Finally, Vicus Capital acquired a new stake in LyondellBasell Industries NV in the third quarter valued at $203,000. 74.05% of the stock is owned by 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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