Jefferies Group Analysts Lower Earnings Estimates for LyondellBasell Industries NV (LYB)
LyondellBasell Industries NV (NYSE:LYB) – Equities researchers at Jefferies Group cut their Q4 2017 earnings per share estimates for shares of LyondellBasell Industries NV in a research note issued to investors on Monday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will post earnings of $2.30 per share for the quarter, down from their previous estimate of $2.47. Jefferies Group has a “Hold” rating and a $95.00 price objective on the stock. Jefferies Group also issued estimates for LyondellBasell Industries NV’s FY2021 earnings at $10.00 EPS.
A number of other research firms have also weighed in on LYB. Cowen and Company restated a “hold” rating and issued a $90.00 target price on shares of LyondellBasell Industries NV in a report on Monday, August 28th. UBS AG raised their target price on LyondellBasell Industries NV from $88.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, October 13th. ValuEngine upgraded LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Zacks Investment Research lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, HSBC Holdings plc lowered LyondellBasell Industries NV from a “buy” rating to a “hold” rating and set a $101.00 target price on the stock. in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $99.56.
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Several institutional investors and hedge funds have recently modified their holdings of the business. State of Wisconsin Investment Board raised its stake in shares of LyondellBasell Industries NV by 4.5% in the third quarter. State of Wisconsin Investment Board now owns 491,801 shares of the specialty chemicals company’s stock valued at $48,713,000 after buying an additional 21,392 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of LyondellBasell Industries NV in the third quarter valued at $618,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of LyondellBasell Industries NV by 13.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 78,970 shares of the specialty chemicals company’s stock valued at $7,822,000 after buying an additional 9,256 shares during the period. BT Investment Management Ltd raised its stake in shares of LyondellBasell Industries NV by 20.4% in the third quarter. BT Investment Management Ltd now owns 151,402 shares of the specialty chemicals company’s stock valued at $15,054,000 after buying an additional 25,702 shares during the period. Finally, Empirical Finance LLC bought a new stake in shares of LyondellBasell Industries NV in the third quarter valued at $1,363,000. Hedge funds and other institutional investors own 74.05% of the company’s stock.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 1,574 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.
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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