Equities Analysts Boost Earnings Estimates for LyondellBasell Industries NV (LYB)

LyondellBasell Industries NV (NYSE:LYB) – Stock analysts at Jefferies Financial Group increased their Q2 2019 earnings estimates for LyondellBasell Industries in a research report issued on Monday, April 29th, Zacks Investment Research reports. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings per share of $2.52 for the quarter, up from their previous forecast of $2.45. Jefferies Financial Group also issued estimates for LyondellBasell Industries’ Q3 2019 earnings at $2.66 EPS and FY2019 earnings at $9.85 EPS.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.02. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $9.47 billion. During the same period last year, the company earned $3.11 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis.

Several other research firms have also recently issued reports on LYB. Zacks Investment Research cut LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. reissued a “buy” rating and issued a $120.00 price target on shares of LyondellBasell Industries in a research note on Tuesday, February 12th. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price target for the stock from $87.00 to $113.00 in a research note on Monday, April 15th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets decreased their price target on LyondellBasell Industries from $97.00 to $95.00 and set a “market perform” rating for the company in a research note on Tuesday, February 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. LyondellBasell Industries currently has a consensus rating of “Buy” and an average target price of $115.59.
NYSE LYB traded up $1.28 during trading hours on Wednesday, hitting $81.80. The company had a trading volume of 1,797,953 shares, compared to its average volume of 2,514,597. LyondellBasell Industries has a fifty-two week low of $77.52 and a fifty-two week high of $119.39. The firm has a market capitalization of $30.31 billion, a PE ratio of 7.26, a P/E/G ratio of 0.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 0.83.

A number of hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC boosted its stake in LyondellBasell Industries by 4.7% during the fourth quarter. Cerity Partners LLC now owns 2,662 shares of the specialty chemicals company’s stock valued at $221,000 after buying an additional 120 shares in the last quarter. Bell & Brown Wealth Advisors LLC boosted its position in shares of LyondellBasell Industries by 2.4% in the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 5,250 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 125 shares during the period. First Command Bank boosted its position in shares of LyondellBasell Industries by 64.4% in the 1st quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 125 shares during the period. Zeke Capital Advisors LLC boosted its position in shares of LyondellBasell Industries by 1.4% in the 1st quarter. Zeke Capital Advisors LLC now owns 9,754 shares of the specialty chemicals company’s stock valued at $820,000 after purchasing an additional 133 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its position in shares of LyondellBasell Industries by 2.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,116 shares of the specialty chemicals company’s stock valued at $430,000 after purchasing an additional 134 shares during the period. 72.83% of the stock is owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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.