Basf (OTCMKTS:BASFY) Shares Down 2.3% – Here’s What Happened

Shares of Basf Se (OTCMKTS:BASFY) dropped 2.3% during mid-day trading on Monday . The company traded as low as $11.66 and last traded at $11.71. Approximately 149,508 shares changed hands during trading, a decline of 35% from the average daily volume of 231,620 shares. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BASFY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Basf in a report on Friday, March 7th. JPMorgan Chase & Co. lowered shares of Basf from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Finally, Berenberg Bank downgraded shares of Basf from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Basf Stock Up 3.7%

The firm has a 50 day moving average of $12.24 and a two-hundred day moving average of $12.08. The stock has a market capitalization of $43.34 billion, a PE ratio of 75.88, a P/E/G ratio of 2.30 and a beta of 1.11. The company has a current ratio of 1.87, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Basf (OTCMKTS:BASFY) last announced its quarterly earnings results on Friday, May 2nd. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Basf had a return on equity of 6.63% and a net margin of 0.78%. The business had revenue of $18.31 billion during the quarter, compared to analysts’ expectations of $17.34 billion. Equities research analysts anticipate that Basf Se will post 0.83 earnings per share for the current year.

Basf Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Wednesday, May 7th were given a dividend of $0.4322 per share. This represents a yield of 3.38%. The ex-dividend date of this dividend was Tuesday, May 6th. Basf’s payout ratio is currently 191.30%.

About Basf

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for plastics and plastics processing industries.