Royal Bank Of Canada Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

Key Points

• Royal Bank Of Canada has reduced its price target for LyondellBasell Industries from $64.00 to $54.00, indicating a potential upside of 4.39% from its current price.
• Several other analysts have also lowered their price targets, with UBS Group setting a target of $49.00 and Wells Fargo at $65.00, reflecting a generally cautious outlook on the stock.
• LyondellBasell Industries reported earnings of $0.62 per share for the last quarter, which fell short of analysts' expectations of $0.87 and marked an 11.8% decline in revenue year-over-year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price target cut by equities researchers at Royal Bank Of Canada from $64.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's price objective points to a potential upside of 7.62% from the stock's current price.

Several other research firms also recently issued reports on LYB. Bank Of America (Bofa) cut their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $63.08.

LyondellBasell Industries Trading Up 1.3%

Shares of NYSE LYB traded up $0.63 during midday trading on Tuesday, hitting $50.18. The company's stock had a trading volume of 5,209,864 shares, compared to its average volume of 5,132,193. LyondellBasell Industries has a 12-month low of $49.27 and a 12-month high of $99.36. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.14 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.85. The business's 50 day moving average is $59.61 and its two-hundred day moving average is $64.63.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the firm earned $2.24 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Advisory LLC grew its position in LyondellBasell Industries by 0.8% during the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock worth $1,197,000 after buying an additional 131 shares during the period. Crews Bank & Trust boosted its position in LyondellBasell Industries by 16.4% during the second quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company's stock worth $72,000 after acquiring an additional 175 shares during the last quarter. NewSquare Capital LLC increased its stake in LyondellBasell Industries by 0.3% in the first quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock valued at $4,932,000 after purchasing an additional 193 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of LyondellBasell Industries by 0.5% during the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company's stock valued at $2,229,000 after acquiring an additional 193 shares during the last quarter. Finally, Forza Wealth Management LLC grew its holdings in LyondellBasell Industries by 1.6% in the first quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 71.20% of the company's stock.

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.