LyondellBasell Industries (NYSE:LYB – Free Report) – Analysts at KeyCorp decreased their Q3 2023 earnings per share (EPS) estimates for LyondellBasell Industries in a research report issued on Monday, July 10th. KeyCorp analyst A. Yefremov now forecasts that the specialty chemicals company will earn $1.79 per share for the quarter, down from their previous estimate of $2.12. The consensus estimate for LyondellBasell Industries’ current full-year earnings is $9.07 per share. KeyCorp also issued estimates for LyondellBasell Industries’ Q4 2023 earnings at $1.50 EPS, FY2023 earnings at $7.57 EPS and FY2024 earnings at $11.01 EPS.
Several other brokerages have also recently issued reports on LYB. Citigroup initiated coverage on shares of LyondellBasell Industries in a research note on Tuesday, June 13th. They set a “neutral” rating and a $89.00 price objective for the company. SpectralCast reissued a “maintains” rating on shares of LyondellBasell Industries in a research report on Thursday, June 29th. 888 restated a “maintains” rating on shares of LyondellBasell Industries in a report on Thursday, June 29th. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $130.00 to $121.00 in a report on Wednesday, May 3rd. Finally, Scotiabank reissued a “sector perform” rating on shares of LyondellBasell Industries in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $97.00.
LyondellBasell Industries Stock Performance
LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.70. LyondellBasell Industries had a net margin of 6.40% and a return on equity of 28.95%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the company posted $4.00 EPS. The company’s quarterly revenue was down 22.1% compared to the same quarter last year.
LyondellBasell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 30th were given a $1.25 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.19. This represents a $5.00 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Friday, May 26th. LyondellBasell Industries’s dividend payout ratio is presently 54.11%.
Institutional Trading of LyondellBasell Industries
Hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL raised its position in shares of LyondellBasell Industries by 1.0% in the 1st quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after purchasing an additional 107 shares in the last quarter. Sei Investments Co. boosted its stake in LyondellBasell Industries by 26.2% during the 1st quarter. Sei Investments Co. now owns 41,362 shares of the specialty chemicals company’s stock valued at $4,349,000 after acquiring an additional 8,596 shares during the last quarter. Prudential PLC bought a new position in LyondellBasell Industries during the 1st quarter valued at $731,000. Cetera Investment Advisers grew its holdings in LyondellBasell Industries by 29.0% during the 1st quarter. Cetera Investment Advisers now owns 7,488 shares of the specialty chemicals company’s stock worth $770,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of LyondellBasell Industries by 20.2% in the 1st quarter. Moors & Cabot Inc. now owns 6,268 shares of the specialty chemicals company’s stock worth $644,000 after purchasing an additional 1,053 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.
About LyondellBasell Industries
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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