LyondellBasell Industries NV (NYSE:LYB) – Equities researchers at Jefferies Financial Group reduced their Q4 2019 earnings per share (EPS) estimates for LyondellBasell Industries in a note issued to investors on Monday, November 4th, according to Zacks Investment Research. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings of $2.87 per share for the quarter, down from their previous estimate of $3.24. Jefferies Financial Group also issued estimates for LyondellBasell Industries’ Q1 2020 earnings at $3.00 EPS, Q2 2020 earnings at $3.83 EPS and FY2022 earnings at $16.35 EPS.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $2.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.78 by ($0.08). LyondellBasell Industries had a net margin of 9.80% and a return on equity of 35.56%. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.98 billion.
A number of other analysts also recently weighed in on the stock. Barclays decreased their target price on shares of LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Nomura decreased their target price on shares of LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Zacks Investment Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Tuesday, August 13th. Bank of America increased their target price on shares of LyondellBasell Industries from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group increased their target price on shares of LyondellBasell Industries from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. LyondellBasell Industries presently has a consensus rating of “Buy” and an average target price of $95.00.
Shares of LyondellBasell Industries stock traded down $0.95 on Wednesday, hitting $92.54. The stock had a trading volume of 698,647 shares, compared to its average volume of 1,786,576. The firm has a market capitalization of $31.23 billion, a P/E ratio of 8.21, a PEG ratio of 1.11 and a beta of 1.36. The stock has a 50 day moving average of $92.10 and a 200 day moving average of $84.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 1.30. LyondellBasell Industries has a twelve month low of $68.61 and a twelve month high of $98.91.
Several institutional investors and hedge funds have recently modified their holdings of LYB. Aristeia Capital LLC bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth $226,334,000. Nuveen Asset Management LLC lifted its holdings in shares of LyondellBasell Industries by 224.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,583,269 shares of the specialty chemicals company’s stock worth $136,367,000 after purchasing an additional 1,094,978 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth $93,445,000. Invesco Ltd. lifted its holdings in shares of LyondellBasell Industries by 32.0% in the 2nd quarter. Invesco Ltd. now owns 3,639,022 shares of the specialty chemicals company’s stock worth $313,429,000 after purchasing an additional 881,932 shares in the last quarter. Finally, Kiltearn Partners LLP bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth $55,295,000. Institutional investors own 66.79% of the company’s stock.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc purchased 764,501 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $74.61 per share, for a total transaction of $57,039,419.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Massimo Covezzi sold 11,762 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.79, for a total value of $1,138,443.98. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.54%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, November 29th. LyondellBasell Industries’s dividend payout ratio is presently 37.27%.
LyondellBasell Industries Company Profile
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.
