LyondellBasell Industries (NYSE:LYB) Releases Quarterly Earnings Results

LyondellBasell Industries (NYSE:LYB) released its quarterly earnings results on Friday. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.15), Briefing.com reports. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $0.29 during mid-day trading on Friday, hitting $86.56. The stock had a trading volume of 2,468,922 shares, compared to its average volume of 1,835,540. LyondellBasell Industries has a 52 week low of $85.64 and a 52 week high of $107.02. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a 50 day simple moving average of $93.56 and a 200-day simple moving average of $96.04. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 75.39%.

Analyst Ratings Changes

Several equities analysts recently weighed in on LYB shares. Deutsche Bank Aktiengesellschaft increased their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group cut their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Barclays dropped their price objective on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Finally, Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $106.33.

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.