31 Jul

How LyondellBasell’s Stock Has Performed since Q1 Earnings

WRITTEN BY Peter Neil

LyondellBasell to announce Q2 2018 earnings

LyondellBasell is set to announce its Q2 2018 earnings on August 3 before the market opens. It will hold a conference call on the same day at 11:00 AM EST. In this series, we’ll look at LyondellBasell’s stock performance since its first-quarter earnings. We’ll also look at analysts’ revenue and EPS (or earnings per share) estimates and the latest recommendations for the stock. Finally, we’ll look at LYB’s short interest trends ahead of second-quarter earnings.

How LyondellBasell’s Stock Has Performed since Q1 Earnings

LYB announced its first-quarter earnings on April 27. Since then, LYB has gained 2.3%. However, it still underperformed the S&P 500 (SPY), which has risen 5.0%. LYB underperformed peer Celanese (CE), which rose 5.4%, but outperformed Westlake Chemical (WLK) and Eastman Chemical (EMN), which have fallen 2.4% and 3.1%, respectively.

LYB stock gained primarily due to better-than-expected first-quarter earnings. LYB reported adjusted EPS of $3.11 and beat the analysts’ estimate of $2.74. Similarly, it beat the revenue estimates of $9.4 billion and posted revenue of $9.8 billion. The stock also gained on positive business developments. LYB received EU antitrust clearance for the acquisition of A. Schulman (SHLM), and the deal is expected to be completed in the second half of 2018. LYB is also in talks to acquire the controlling stake in Braskem (BAK). Further, LYB bagged a couple of new clients for its PP technology. Strong earnings in its second quarter could push the stock prices up.

Moving averages and RSI

LYB’s gain in stock price has resulted in the stock trading marginally below the 100-day moving average price of $109.14. LYB has a 14-day relative strength index of 49, indicating that the stock is neither overbought nor oversold. An RSI of 30 or below suggests that the stock is oversold, while an RSI of 70 and above indicates that the stock is overbought.

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