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Company Update: LyondellBasell Industries NV (NYSE:LYB) – LyondellBasell Completes Second Polypropylene Compounds Acquisition in India

[PR Newswire] – HOUSTON and LONDON, April 7, 2016 /PRNewswire/ — LyondellBasell (LYB), one of the world’s largest plastics, chemical and refining companies, today announced that it completed the previously announced acquisition of the polypropylene (PP) compounding assets of Zylog Plastalloys Pvt. LyondellBasell has supplied the Indian market through imports and tolling arrangements since 2009. In October 2015, LyondellBasell acquired SJS Plastiblends Pvt. Read more on this. LyondellBasell Industries N.V. (LYB) , with a current value of $36.41B, started the session at $85.39. Shares have traded today between $84.32 and $86.10 per share and has traded between $69.10 and $107.32 over the past 12 months. LyondellBasell (LYB) shares are currently priced at 9.09x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.23x earnings multiple for the same period. And for income investors, the company pays shareholders $3.12 per share annually in dividends, yielding 3.59%. According to a consensus of 19 analysts, the earnings estimate of $2.27 per share would be $0.27 worse than the year-ago quarter and a $0.15 sequential decrease. The full-year EPS estimate is $9.49 which would be a $0.86 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.05 Billion. If realized, that would be a 13.81% decrease over the year-ago quarter. Recently, Atlantic Equities downgraded LYB from Neutral to Underweight (Apr 5, 2016). Previously, RBC Capital Mkts downgraded LYB from Top Pick to Outperform. With the above information in mind, readers should note that the average price target is $92.26, which is 8.05% above where the stock opened this morning. See more in (NYSE:LYB) Similar Articles: Company Update: LyondellBasell Industries NV (NYSE:LYB) – LyondellBasell to Address Bank of America Global Agriculture & Chemicals Conference Company Update: LyondellBasell Industries NV (NYSE:LYB) – Specialty Chemicals Stocks Technical Review — Platform Specialty Products, LyondellBasell Industries, The Chemours, and Olin Market Update: LyondellBasell Industries NV (NYSE:LYB) – LyondellBasell to Discuss Fourth-Quarter Results on Tuesday, Feb. 2, 2016
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