Basf (OTCMKTS:BASFY) Downgraded by Zacks Investment Research
According to Zacks, “BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. “
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. began coverage on Pinduoduo in a research note on Tuesday. They set an underweight rating and a $20.48 target price for the company. HSBC set a €6.90 ($8.02) target price on Deutsche Bank and gave the stock a neutral rating in a research note on Tuesday. Societe Generale reaffirmed a hold rating on shares of Basf in a research report on Friday, April 5th. Goldman Sachs Group raised DUFRY AG/ADR to a hold rating in a research report on Friday, July 5th. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has an average rating of Hold.
Basf (OTCMKTS:BASFY) last posted its earnings results on Friday, May 3rd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Basf had a return on equity of 14.01% and a net margin of 6.94%. The business had revenue of $18.37 billion during the quarter. Analysts anticipate that Basf will post 1.3 EPS for the current fiscal year.
Basf Company Profile
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, such as isocyanates and polyamides, as well as inorganic basic products and specialties for plastic and plastic processing industries.
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