Q2 2022 EPS Estimates for LyondellBasell Industries Lifted by Analyst (NYSE:LYB)

LyondellBasell Industries (NYSE:LYB – Get Rating) – Equities researchers at Jefferies Financial Group raised their Q2 2022 earnings estimates for LyondellBasell Industries in a report issued on Wednesday, June 8th. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will earn $5.78 per share for the quarter, up from their previous estimate of $5.13. Jefferies Financial Group also issued estimates for LyondellBasell Industries’ Q3 2022 earnings at $6.88 EPS, Q4 2022 earnings at $5.30 EPS, FY2022 earnings at $21.95 EPS, FY2023 earnings at $20.55 EPS and FY2024 earnings at $13.85 EPS.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.52. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The firm had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.67 billion. During the same quarter in the previous year, the firm earned $3.18 EPS. The company’s quarterly revenue was up 44.9% compared to the same quarter last year.

A number of other research analysts also recently issued reports on LYB. Mizuho lifted their price objective on shares of LyondellBasell Industries from $125.00 to $132.00 in a research report on Tuesday, May 3rd. Barclays boosted their target price on shares of LyondellBasell Industries from $125.00 to $130.00 in a research report on Monday, May 2nd. BMO Capital Markets boosted their target price on shares of LyondellBasell Industries from $108.00 to $128.00 in a research report on Thursday, May 5th. Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $120.00 to $125.00 in a research report on Monday, May 2nd. Finally, Alembic Global Advisors downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $120.00 to $115.00 in a research report on Tuesday, May 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $114.44.

Shares of LyondellBasell Industries stock opened at $108.22 on Friday. The firm’s 50 day moving average price is $108.09 and its 200-day moving average price is $100.60. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 0.88. LyondellBasell Industries has a 52-week low of $84.17 and a 52-week high of $117.22. The company has a market cap of $35.46 billion, a P/E ratio of 6.16, a PEG ratio of 0.79 and a beta of 1.27.

The company also recently announced a special dividend, which will be paid on Monday, June 13th. Investors of record on Monday, June 6th will be paid a $5.20 dividend. This represents a dividend yield of 4.2%. The ex-dividend date is Friday, June 3rd. LyondellBasell Industries’s dividend payout ratio is currently 27.11%.

In related news, Director Jagjeet S. Bindra sold 2,640 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the transaction, the director now directly owns 7,020 shares in the company, valued at approximately $782,308.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LYB. Macquarie Group Ltd. raised its position in LyondellBasell Industries by 19.9% during the third quarter. Macquarie Group Ltd. now owns 13,919 shares of the specialty chemicals company’s stock worth $1,307,000 after acquiring an additional 2,306 shares during the period. Franklin Resources Inc. raised its position in LyondellBasell Industries by 6.8% during the third quarter. Franklin Resources Inc. now owns 363,037 shares of the specialty chemicals company’s stock worth $34,071,000 after acquiring an additional 23,038 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in LyondellBasell Industries during the third quarter worth $1,076,000. CSS LLC IL grew its holdings in shares of LyondellBasell Industries by 51.4% during the third quarter. CSS LLC IL now owns 8,842 shares of the specialty chemicals company’s stock worth $830,000 after buying an additional 3,000 shares in the last quarter. Finally, Mariner LLC grew its holdings in shares of LyondellBasell Industries by 3.1% during the third quarter. Mariner LLC now owns 446,217 shares of the specialty chemicals company’s stock worth $41,878,000 after buying an additional 13,622 shares in the last quarter. Hedge funds and other institutional investors own 69.64% of the company’s stock.

About LyondellBasell Industries (Get Rating)

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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