TheStreet Reiterates Buy Rating for LyondellBasell (LYB)

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LyondellBasell (NYSE: LYB)‘s stock had its “buy” rating reiterated by analysts at TheStreet in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports.

The analysts wrote, “LyondellBasell Industries (LYB) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.”

LyondellBasell (NYSE: LYB) opened at 66.40 on Thursday. LyondellBasell has a 1-year low of $36.97 and a 1-year high of $68.46. The stock’s 50-day moving average is currently $63.22. The company has a market cap of $38.214 billion and a price-to-earnings ratio of 12.23.

LyondellBasell (NYSE: LYB) last released its earnings data on Friday, April 26th. The company reported $1.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.45 by $0.11. The company had revenue of $10.67 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts predict that LyondellBasell will post $6.12 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of LyondellBasell in a research note to investors on Thursday, May 23rd. They now have a $75.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of LyondellBasell from $78.00 to $79.00 in a research note to investors on Thursday, May 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Citigroup upgraded shares of LyondellBasell from a “neutral” rating to a “buy” rating in a research note to investors on Monday, May 13th.

Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $67.54.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 24th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, May 30th.

LyondellBasell Industries N.V. is an independent chemical company. The Company’s chemicals businesses consist of processing plants that convert volumes of liquid and gaseous hydrocarbon feedstock into plastic resins and other chemicals.

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