LyondellBasell Industries Forecasted to Post Q3 2021 Earnings of $5.71 Per Share (NYSE:LYB)

LyondellBasell Industries (NYSE:LYB) – Research analysts at KeyCorp lowered their Q3 2021 earnings per share estimates for shares of LyondellBasell Industries in a note issued to investors on Sunday, October 10th. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will earn $5.71 per share for the quarter, down from their previous estimate of $6.05. KeyCorp also issued estimates for LyondellBasell Industries’ Q4 2021 earnings at $4.98 EPS and FY2021 earnings at $20.01 EPS.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, July 30th. The specialty chemicals company reported $6.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.67 by $0.46. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $11.09 billion. LyondellBasell Industries had a net margin of 11.59% and a return on equity of 49.55%. The company’s revenue was up 108.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share.

Several other equities research analysts also recently commented on the stock. Mizuho began coverage on shares of LyondellBasell Industries in a report on Tuesday. They set a “buy” rating and a $125.00 price objective on the stock. TheStreet raised shares of LyondellBasell Industries from a “c+” rating to a “b-” rating in a report on Friday, July 30th. Piper Sandler began coverage on LyondellBasell Industries in a research report on Monday, September 13th. They set an “overweight” rating and a $78.00 price target on the stock. Zacks Investment Research cut LyondellBasell Industries from a “strong-buy” rating to a “hold” rating and set a $109.00 price target on the stock. in a research report on Tuesday, August 17th. Finally, Bank of America cut LyondellBasell Industries from a “buy” rating to a “neutral” rating and decreased their price target for the company from $117.00 to $114.00 in a research report on Friday, July 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.60.

NYSE LYB opened at $96.28 on Tuesday. The company has a market cap of $32.21 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. LyondellBasell Industries has a 52 week low of $66.72 and a 52 week high of $118.01. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $97.30 and its two-hundred day simple moving average is $102.85.

A number of hedge funds and other institutional investors have recently modified their holdings of LYB. Teacher Retirement System of Texas grew its position in LyondellBasell Industries by 22.2% during the first quarter. Teacher Retirement System of Texas now owns 29,815 shares of the specialty chemicals company’s stock valued at $3,102,000 after acquiring an additional 5,423 shares during the last quarter. Acadian Asset Management LLC grew its position in LyondellBasell Industries by 298.0% during the first quarter. Acadian Asset Management LLC now owns 32,534 shares of the specialty chemicals company’s stock valued at $3,385,000 after acquiring an additional 24,359 shares during the last quarter. Panagora Asset Management Inc. grew its position in LyondellBasell Industries by 17.3% during the first quarter. Panagora Asset Management Inc. now owns 10,321 shares of the specialty chemicals company’s stock valued at $1,074,000 after acquiring an additional 1,522 shares during the last quarter. Quadrant Capital Group LLC grew its position in LyondellBasell Industries by 11.3% during the first quarter. Quadrant Capital Group LLC now owns 1,343 shares of the specialty chemicals company’s stock valued at $140,000 after acquiring an additional 136 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of LyondellBasell Industries during the first quarter valued at approximately $330,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 30th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Friday, August 27th. LyondellBasell Industries’s payout ratio is currently 80.57%.

LyondellBasell Industries Company Profile

LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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

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