Zacks: Brokerages Expect LyondellBasell Industries NV (NYSE:LYB) Will Announce Earnings of $2.57 Per Share
Brokerages predict that LyondellBasell Industries NV (NYSE:LYB) will report earnings of $2.57 per share for the current quarter, Zacks reports. Four analysts have made estimates for LyondellBasell Industries NV’s earnings. The lowest EPS estimate is $2.49 and the highest is $2.70. LyondellBasell Industries NV reported earnings per share of $2.31 during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The company is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that LyondellBasell Industries NV will report full-year earnings of $9.97 per share for the current financial year, with EPS estimates ranging from $9.70 to $10.20. For the next fiscal year, analysts forecast that the firm will report earnings of $9.00 per share, with EPS estimates ranging from $8.30 to $10.35. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for LyondellBasell Industries NV.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter last year, the business earned $2.56 earnings per share. LyondellBasell Industries NV’s revenue was up 14.7% on a year-over-year basis.
A number of analysts recently issued reports on LYB shares. Bank of America Corporation cut LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Tuesday, May 9th. Instinet dropped their price objective on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, May 1st. Citigroup Inc. reissued an “overweight” rating on shares of LyondellBasell Industries NV in a report on Friday, April 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $110.00 price objective on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $94.81.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Torray LLC raised its position in shares of LyondellBasell Industries NV by 33.4% in the second quarter. Torray LLC now owns 13,380 shares of the specialty chemicals company’s stock valued at $1,129,000 after buying an additional 3,350 shares during the period. Boston Private Wealth LLC raised its position in shares of LyondellBasell Industries NV by 21.6% in the second quarter. Boston Private Wealth LLC now owns 38,898 shares of the specialty chemicals company’s stock valued at $3,283,000 after buying an additional 6,899 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of LyondellBasell Industries NV by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 504,408 shares of the specialty chemicals company’s stock valued at $42,567,000 after buying an additional 5,764 shares during the period. Hourglass Capital LLC purchased a new position in shares of LyondellBasell Industries NV during the second quarter valued at approximately $3,699,000. Finally, Annex Advisory Services LLC raised its position in shares of LyondellBasell Industries NV by 13.2% in the second quarter. Annex Advisory Services LLC now owns 9,805 shares of the specialty chemicals company’s stock valued at $827,000 after buying an additional 1,140 shares during the period. Hedge funds and other institutional investors own 73.27% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE LYB) traded up 0.03% on Friday, hitting $88.78. The company had a trading volume of 1,514,203 shares. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 9.91 and a beta of 1.06. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year 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 declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 24th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
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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