LyondellBasell Industries (NYSE:LYB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $132.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 17.68% from the company’s current price.
According to Zacks, “LyondellBasell’s profits surged year over year in fourth-quarter 2017. Adjusted earnings and sales for the quarter beat the respective Zacks Consensus Estimate. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns.”
Several other brokerages have also issued reports on LYB. ValuEngine raised shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a report on Friday. Royal Bank of Canada boosted their price target on shares of LyondellBasell Industries from $102.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, October 31st. Cowen boosted their price target on shares of LyondellBasell Industries from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, October 16th. UBS Group boosted their price target on shares of LyondellBasell Industries from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $125.00 price target (up previously from $110.00) on shares of LyondellBasell Industries in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $106.53.
LyondellBasell Industries (LYB) opened at $112.17 on Monday. The company has a market cap of $44,246.61, a price-to-earnings ratio of 9.16, a P/E/G ratio of 1.30 and a beta of 1.05. LyondellBasell Industries has a one year low of $78.01 and a one year high of $121.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.57 and a current ratio of 2.46.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, February 2nd. The specialty chemicals company reported $2.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.18. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.82 billion. LyondellBasell Industries had a net margin of 14.15% and a return on equity of 55.09%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 EPS. equities analysts predict that LyondellBasell Industries will post 9.62 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. U S Global Investors Inc. grew its holdings in LyondellBasell Industries by 40.0% during the 2nd quarter. U S Global Investors Inc. now owns 4,900 shares of the specialty chemicals company’s stock worth $414,000 after acquiring an additional 1,400 shares during the last quarter. Torray LLC grew its holdings in LyondellBasell Industries by 7.0% during the 3rd quarter. Torray LLC now owns 14,320 shares of the specialty chemicals company’s stock worth $1,418,000 after acquiring an additional 940 shares during the last quarter. Guardian Capital LP bought a new stake in LyondellBasell Industries during the 3rd quarter worth about $363,000. Wells Fargo & Company MN grew its holdings in LyondellBasell Industries by 27.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,750,468 shares of the specialty chemicals company’s stock worth $173,383,000 after acquiring an additional 376,317 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in LyondellBasell Industries during the 3rd quarter worth about $736,000. 74.28% of the stock is currently owned by institutional investors and hedge funds.
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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