Brokerages expect that LyondellBasell Industries NV (NYSE:LYB) will report sales of $9.26 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for LyondellBasell Industries’ earnings, with the lowest sales estimate coming in at $8.79 billion and the highest estimate coming in at $9.71 billion. LyondellBasell Industries reported sales of $10.21 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 9.3%. The company is expected to report its next quarterly earnings results before the market opens on Friday, August 2nd.
On average, analysts expect that LyondellBasell Industries will report full-year sales of $37.88 billion for the current fiscal year, with estimates ranging from $35.77 billion to $41.57 billion. For the next year, analysts anticipate that the company will post sales of $38.86 billion, with estimates ranging from $34.65 billion to $43.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover LyondellBasell Industries.
A number of research analysts recently issued reports on the company. Alembic Global Advisors set a $120.00 price target on LyondellBasell Industries and gave the company a “buy” rating in a report on Friday, April 26th. UBS Group lifted their price target on LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Citigroup initiated coverage on LyondellBasell Industries in a report on Friday, July 12th. They issued a “neutral” rating and a $92.00 price target for the company. Deutsche Bank cut LyondellBasell Industries from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $100.00 to $94.00 in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. initiated coverage on LyondellBasell Industries in a report on Friday, July 19th. They set an “underweight” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $107.38.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of LyondellBasell Industries by 1.2% in the 1st quarter. BlackRock Inc. now owns 22,850,940 shares of the specialty chemicals company’s stock valued at $1,921,305,000 after acquiring an additional 275,890 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of LyondellBasell Industries by 3.9% in the 2nd quarter. Janus Henderson Group PLC now owns 5,877,544 shares of the specialty chemicals company’s stock valued at $506,235,000 after acquiring an additional 220,595 shares during the last quarter. Deutsche Bank AG increased its stake in shares of LyondellBasell Industries by 45.4% in the 4th quarter. Deutsche Bank AG now owns 4,474,550 shares of the specialty chemicals company’s stock valued at $372,096,000 after acquiring an additional 1,396,953 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of LyondellBasell Industries by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 4,325,044 shares of the specialty chemicals company’s stock valued at $359,186,000 after acquiring an additional 203,826 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of LyondellBasell Industries by 6.0% in the 1st quarter. LSV Asset Management now owns 3,932,378 shares of the specialty chemicals company’s stock valued at $330,634,000 after acquiring an additional 224,003 shares during the last quarter. 76.36% of the stock is owned by institutional investors.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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