LyondellBasell Industries NV (NYSE:LYB) – Jefferies Financial Group boosted their Q3 2019 earnings per share estimates for shares of LyondellBasell Industries in a note issued to investors on Tuesday, June 11th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $2.83 per share for the quarter, up from their prior estimate of $2.66. Jefferies Financial Group has a “Buy” rating and a $104.00 price target on the stock. Jefferies Financial Group also issued estimates for LyondellBasell Industries’ FY2019 earnings at $10.05 EPS, Q1 2020 earnings at $2.54 EPS, Q2 2020 earnings at $3.08 EPS, Q3 2020 earnings at $3.42 EPS, Q4 2020 earnings at $3.21 EPS, FY2020 earnings at $12.25 EPS and FY2021 earnings at $14.35 EPS.
Several other brokerages also recently commented on LYB. Nomura raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $87.00 to $113.00 in a research report on Monday, April 15th. Dougherty & Co downgraded shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Bank of America raised shares of LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Tuesday, April 2nd. Alembic Global Advisors set a $120.00 price target on shares of LyondellBasell Industries and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, reiterated a “buy” rating and set a $120.00 target price on shares of LyondellBasell Industries in a research note on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $112.13.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 EPS for the quarter, topping the consensus estimate of $2.20 by $0.02. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $9.47 billion. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The company’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.11 EPS.
The company 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 $1.05 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.20 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, June 7th. LyondellBasell Industries’s payout ratio is currently 37.27%.
Institutional investors have recently made changes to their positions in the stock. First Command Bank raised its stake in 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 acquiring an additional 125 shares during the period. Kore Private Wealth LLC bought a new stake in LyondellBasell Industries in the 1st quarter valued at about $27,000. Destination Wealth Management bought a new stake in LyondellBasell Industries in the 1st quarter valued at about $28,000. Berman Capital Advisors LLC bought a new stake in LyondellBasell Industries in the 4th quarter valued at about $31,000. Finally, Phocas Financial Corp. bought a new stake in LyondellBasell Industries in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 68.94% of the company’s stock.
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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