LyondellBasell Industries (NYSE:LYB) Releases Earnings Results, Misses Estimates By $0.25 EPS

Key Points

• LyondellBasell Industries reported $0.62 EPS for the quarter, missing analysts' expectations by $0.25, while achieving a revenue of $7.66 billion, which exceeded the forecast of $7.58 billion.
• The company declared a quarterly dividend of $1.37, up from $1.34, representing an annualized yield of 10.2% with a payout ratio of 169.14%.
• Analysts have adjusted their price targets for LyondellBasell's stock, with JPMorgan reducing its target from $80.00 to $60.00, indicating a shift in market sentiment.

LyondellBasell Industries (NYSE:LYB - Get Free Report) released its quarterly earnings results on Friday. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25), Zacks reports. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.24 EPS.

LyondellBasell Industries Stock Performance

LYB stock traded down $4.09 during trading hours on Friday, reaching $53.84. The stock had a trading volume of 7,655,412 shares, compared to its average volume of 3,763,053. The stock has a market capitalization of $17.31 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 3.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04. The stock has a 50-day simple moving average of $60.18 and a 200 day simple moving average of $65.50. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $99.36.

LyondellBasell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a $1.37 dividend. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries's dividend payout ratio is 169.14%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Royal Bank Of Canada lifted their target price on shares of LyondellBasell Industries from $61.00 to $64.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. Barclays decreased their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and an average price target of $66.00.

Institutional Trading of LyondellBasell Industries

A hedge fund recently raised its stake in LyondellBasell Industries stock. Focus Partners Wealth boosted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 35.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,866 shares of the specialty chemicals company's stock after purchasing an additional 1,796 shares during the quarter. Focus Partners Wealth's holdings in LyondellBasell Industries were worth $483,000 at the end of the most recent reporting period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Company Profile

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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