LyondellBasell Industries NV (LYB) Expected to Announce Quarterly Sales of $8.81 Billion
Wall Street brokerages expect LyondellBasell Industries NV (NYSE:LYB) to announce $8.81 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for LyondellBasell Industries’ earnings, with estimates ranging from $8.40 billion to $9.05 billion. LyondellBasell Industries posted sales of $7.75 billion during the same quarter last year, which suggests a positive year over year growth rate of 13.7%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, February 2nd.
On average, analysts expect that LyondellBasell Industries will report full year sales of $8.81 billion for the current fiscal year, with estimates ranging from $32.57 billion to $34.40 billion. For the next year, analysts anticipate that the business will report sales of $33.08 billion per share, with estimates ranging from $31.06 billion to $34.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow LyondellBasell Industries.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.43 by ($0.02). LyondellBasell Industries had a return on equity of 58.13% and a net margin of 11.32%.
Several research analysts have recently issued reports on the company. Cowen reaffirmed a “hold” rating and set a $90.00 price objective on shares of LyondellBasell Industries in a research report on Wednesday, October 4th. Morgan Stanley set a $115.00 price objective on LyondellBasell Industries and gave the stock a “buy” rating in a research report on Saturday, December 2nd. Vertical Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, October 12th. Finally, SunTrust Banks reissued a “hold” rating and issued a $100.00 target price on shares of LyondellBasell Industries in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $103.74.
LyondellBasell Industries (LYB) traded up $0.01 during trading hours on Friday, hitting $116.89. The stock had a trading volume of 2,248,300 shares, compared to its average volume of 1,625,158. The firm has a market cap of $46,380.00, a PE ratio of 12.46, a P/E/G ratio of 1.37 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $78.01 and a twelve month high of $118.13. The company has a current ratio of 2.40, a quick ratio of 1.49 and a debt-to-equity ratio of 1.16.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 1,574 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total transaction of $163,271.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in shares of LyondellBasell Industries by 2.8% during the 2nd quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock worth $2,527,492,000 after buying an additional 821,391 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of LyondellBasell Industries by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock worth $2,070,041,000 after acquiring an additional 473,129 shares during the period. Capital World Investors grew its holdings in shares of LyondellBasell Industries by 23.0% in the 2nd quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock worth $1,650,846,000 after acquiring an additional 3,651,750 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of LyondellBasell Industries by 19.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock worth $652,840,000 after acquiring an additional 1,069,625 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of LyondellBasell Industries by 10,925.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,067,951 shares of the specialty chemicals company’s stock worth $427,685,000 after acquiring an additional 5,021,985 shares during the period. 74.09% of the stock is owned by institutional investors and hedge funds.
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LyondellBasell Industries 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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