LyondellBasell Industries (NYSE:LYB) Updates Q2 Earnings Guidance

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LyondellBasell Industries (NYSE:LYB) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.79-2.91 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.83.

LYB stock opened at $86.27 on Thursday. The stock has a market capitalization of $32.06 billion, a PE ratio of 7.65, a P/E/G ratio of 1.06 and a beta of 1.18. The stock’s 50-day moving average is $81.72. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. LyondellBasell Industries has a 52 week low of $73.94 and a 52 week high of $116.63.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.02. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $9.47 billion. During the same quarter in the prior year, the company earned $3.11 EPS. LyondellBasell Industries’s revenue was down 10.1% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries will post 10.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $1.05 dividend. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.20 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Friday, June 7th. LyondellBasell Industries’s dividend payout ratio is currently 37.27%.

LYB has been the topic of a number of research reports. Bank of America upgraded shares of LyondellBasell Industries from an underperform rating to a buy rating and set a $105.00 target price on the stock in a report on Tuesday, April 2nd. Goldman Sachs Group raised shares of LyondellBasell Industries from a neutral rating to a buy rating and increased their target price for the company from $104.00 to $125.00 in a research report on Wednesday, March 6th. Jefferies Financial Group increased their target price on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Alembic Global Advisors set a $120.00 price objective on shares of LyondellBasell Industries and gave the stock a buy rating in a research report on Friday, April 26th. Finally, Nomura raised shares of LyondellBasell Industries from a neutral rating to a buy rating and raised their price objective for the stock from $87.00 to $113.00 in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $112.07.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, 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.

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Earnings History and Estimates for LyondellBasell Industries (NYSE:LYB)

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