Equities analysts expect LyondellBasell Industries NV (NYSE:LYB) to announce $9.48 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for LyondellBasell Industries’ earnings. The lowest sales estimate is $8.87 billion and the highest is $10.47 billion. LyondellBasell Industries posted sales of $9.14 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings results on Friday, February 1st.
On average, analysts expect that LyondellBasell Industries will report full-year sales of $39.12 billion for the current financial year, with estimates ranging from $38.38 billion to $40.60 billion. For the next financial year, analysts expect that the firm will report sales of $39.96 billion, with estimates ranging from $36.62 billion to $42.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for LyondellBasell Industries.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.28. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. The company had revenue of $10.16 billion for the quarter, compared to analyst estimates of $9.95 billion. During the same period in the prior year, the company posted $2.67 EPS. The company’s revenue was up 19.2% compared to the same quarter last year.
Several equities research analysts have recently weighed in on LYB shares. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a research note on Thursday, August 9th. Cowen upped their price objective on LyondellBasell Industries from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Friday, August 10th. Citigroup upped their price objective on LyondellBasell Industries from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. JPMorgan Chase & Co. downgraded LyondellBasell Industries from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $110.00 to $95.00 in a report on Wednesday, September 19th. Finally, BNP Paribas initiated coverage on LyondellBasell Industries in a report on Tuesday, October 2nd. They issued an “outperform” rating and a $129.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $116.88.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc bought 474,938 shares of LyondellBasell Industries stock in a transaction dated Thursday, November 1st. The shares were acquired at an average cost of $91.51 per share, with a total value of $43,461,576.38. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 4,396,236 shares of company stock worth $418,088,113 over the last three months. 0.09% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Scopus Asset Management L.P. acquired a new position in LyondellBasell Industries during the 2nd quarter worth $10,985,000. Green Square Capital LLC lifted its holdings in LyondellBasell Industries by 133.2% during the 2nd quarter. Green Square Capital LLC now owns 13,024 shares of the specialty chemicals company’s stock worth $1,431,000 after buying an additional 7,440 shares in the last quarter. Alps Advisors Inc. lifted its holdings in LyondellBasell Industries by 16.1% during the 3rd quarter. Alps Advisors Inc. now owns 472,161 shares of the specialty chemicals company’s stock worth $48,401,000 after buying an additional 65,447 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in LyondellBasell Industries by 40.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 65,395 shares of the specialty chemicals company’s stock worth $6,704,000 after buying an additional 18,935 shares in the last quarter. Finally, Northwest Bancshares Inc. lifted its holdings in LyondellBasell Industries by 125.7% during the 2nd quarter. Northwest Bancshares Inc. now owns 10,424 shares of the specialty chemicals company’s stock worth $1,145,000 after buying an additional 5,806 shares in the last quarter. 73.24% of the stock is currently owned by hedge funds and other institutional investors.
LYB stock opened at $88.23 on Friday. LyondellBasell Industries has a 1-year low of $85.60 and a 1-year high of $121.95. The company has a market capitalization of $34.75 billion, a PE ratio of 8.62, a P/E/G ratio of 0.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.82.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 10th will be issued a $1.00 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, December 7th. LyondellBasell Industries’s payout ratio is presently 39.10%.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; 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, copolymers, and compounds.
Read More: Return on Equity (ROE)
Get a free copy of the Zacks research report on LyondellBasell Industries (LYB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com