LyondellBasell Industries NV (NYSE:LYB) – Research analysts at Jefferies Financial Group decreased their Q2 2019 earnings per share estimates for shares of LyondellBasell Industries in a research report issued on Tuesday, June 11th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will earn $2.50 per share for the quarter, down from their previous estimate of $2.52. Jefferies Financial Group has a “Buy” rating and a $104.00 price objective on the stock. Jefferies Financial Group also issued estimates for LyondellBasell Industries’ Q4 2019 earnings at $2.49 EPS and FY2022 earnings at $17.50 EPS.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.02. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $9.47 billion. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.11 EPS.
A number of other research analysts also recently weighed in on LYB. Dougherty & Co downgraded LyondellBasell Industries from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. Goldman Sachs Group raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $104.00 to $125.00 in a research note on Wednesday, March 6th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, April 2nd. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $87.00 to $113.00 in a research note on Monday, April 15th. Finally, Alembic Global Advisors set a $120.00 price target on LyondellBasell Industries and gave the company a “buy” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $112.13.
LYB stock opened at $85.39 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 1.47. The firm has a market capitalization of $31.30 billion, a PE ratio of 8.17, a P/E/G ratio of 1.05 and a beta of 1.18. LyondellBasell Industries has a twelve month low of $73.94 and a twelve month high of $117.85.
A number of institutional investors have recently modified their holdings of LYB. Oregon Public Employees Retirement Fund raised its stake in LyondellBasell Industries by 7,934.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,343,271 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 13,177,190 shares during the period. Norges Bank acquired a new stake in LyondellBasell Industries during the 4th quarter worth $259,614,000. Deutsche Bank AG raised its stake in LyondellBasell Industries by 45.4% during the 4th quarter. Deutsche Bank AG now owns 4,474,550 shares of the specialty chemicals company’s stock worth $372,096,000 after buying an additional 1,396,953 shares during the period. Voya Investment Management LLC raised its stake in LyondellBasell Industries by 328.7% during the 1st quarter. Voya Investment Management LLC now owns 1,423,777 shares of the specialty chemicals company’s stock worth $119,711,000 after buying an additional 1,091,694 shares during the period. Finally, Two Sigma Advisers LP raised its stake in LyondellBasell Industries by 107.3% during the 4th quarter. Two Sigma Advisers LP now owns 1,949,246 shares of the specialty chemicals company’s stock worth $162,099,000 after buying an additional 1,009,000 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 4.92%. The ex-dividend date is Friday, June 7th. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $0.78. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 37.27%.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
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