LyondellBasell Industries NV (NYSE:LYB) – Research analysts at SunTrust Banks lifted their FY2018 earnings per share estimates for LyondellBasell Industries in a research note issued on Tuesday. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings per share of $9.73 for the year, up from their previous estimate of $9.46. SunTrust Banks has a “Hold” rating and a $100.00 price objective on the stock. SunTrust Banks also issued estimates for LyondellBasell Industries’ FY2019 earnings at $9.14 EPS.
A number of other research firms also recently issued reports on LYB. Wells Fargo & Co reissued an “outperform” rating and set a $125.00 price target (up previously from $110.00) on shares of LyondellBasell Industries in a research report on Wednesday. Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Tuesday, January 9th. Vertical Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Monday, December 18th. Finally, Barclays increased their price target on LyondellBasell Industries from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $103.74.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.02). LyondellBasell Industries had a return on equity of 58.13% and a net margin of 11.32%.
In related news, Director Jagjeet S. Bindra sold 1,574 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total transaction of $163,271.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in LyondellBasell Industries by 2.8% in the second quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock valued at $2,527,492,000 after buying an additional 821,391 shares during the last quarter. Vanguard Group Inc. raised its stake in LyondellBasell Industries by 2.0% in the second quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock valued at $2,070,041,000 after buying an additional 473,129 shares during the last quarter. Capital World Investors raised its stake in LyondellBasell Industries by 23.0% in the second quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after buying an additional 3,651,750 shares during the last quarter. Ameriprise Financial Inc. raised its stake in LyondellBasell Industries by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock valued at $652,840,000 after buying an additional 1,069,625 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in LyondellBasell Industries by 10,925.4% in the second quarter. Janus Henderson Group PLC now owns 5,067,951 shares of the specialty chemicals company’s stock valued at $427,685,000 after buying an additional 5,021,985 shares during the last quarter. Institutional investors own 74.09% of the company’s stock.
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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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