Brokerages Anticipate Braskem S.A. (NYSE:BAK) Will Announce Earnings of $1.02 Per Share

Brokerages expect Braskem S.A. (NYSE:BAK) to announce $1.02 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Braskem’s earnings. Braskem posted earnings of ($0.66) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 254.5%. The business is scheduled to issue its next earnings results on Thursday, November 11th.

According to Zacks, analysts expect that Braskem will report full-year earnings of $6.58 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of $3.90 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Braskem.

Braskem (NYSE:BAK) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $1.30. Braskem had a net margin of 11.24% and a negative return on equity of 811.92%.

A number of research firms recently weighed in on BAK. Zacks Investment Research upgraded shares of Braskem from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Friday, July 23rd. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 14th. Finally, TheStreet upgraded shares of Braskem from a “c-” rating to a “b-” rating in a research report on Friday, August 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.33.

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in shares of Braskem by 311.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,850 shares of the company’s stock worth $44,000 after buying an additional 1,400 shares in the last quarter. Shilanski & Associates Inc. purchased a new stake in shares of Braskem in the 2nd quarter worth about $495,000. BlackRock Inc. purchased a new stake in shares of Braskem in the 1st quarter worth about $32,000. Liberty Wealth Management LLC purchased a new stake in shares of Braskem in the 2nd quarter worth about $97,000. Finally, UBS Group AG boosted its position in shares of Braskem by 225.7% in the 1st quarter. UBS Group AG now owns 4,654 shares of the company’s stock worth $66,000 after buying an additional 3,225 shares in the last quarter.

NYSE:BAK traded down $1.45 during midday trading on Friday, reaching $24.87. The stock had a trading volume of 238,867 shares, compared to its average volume of 266,556. The firm has a fifty day simple moving average of $23.47 and a two-hundred day simple moving average of $20.18. Braskem has a 12-month low of $7.00 and a 12-month high of $26.93. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 5.44. The stock has a market cap of $9.91 billion, a P/E ratio of 5.65 and a beta of 1.66.

Braskem Company Profile

Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.

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