Braskem (NYSE:BAK) Issues Earnings Results

Braskem (NYSE:BAK) posted its quarterly earnings results on Thursday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.54), FiscalAI reports. Braskem had a negative net margin of 7.28% and a negative return on equity of 67.75%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.64 billion.

Braskem Stock Performance

Shares of BAK stock traded up $0.06 during trading hours on Thursday, reaching $1.16. The company had a trading volume of 1,832,007 shares, compared to its average volume of 3,266,536. Braskem has a twelve month low of $0.74 and a twelve month high of $5.39. The company has a market capitalization of $460.38 million, a P/E ratio of 0.39, a price-to-earnings-growth ratio of 0.07 and a beta of 1.68. The stock’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $2.93.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BAK shares. HSBC downgraded shares of Braskem from a “buy” rating to a “hold” rating and dropped their target price for the stock from $6.50 to $1.50 in a research report on Monday, September 28th. Wall Street Zen raised shares of Braskem to a “hold” rating in a research report on Saturday, October 17th. UBS Group downgraded shares of Braskem from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.00 to $1.50 in a research note on Tuesday, September 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research report on Thursday, October 15th. Three investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $2.56.

About Braskem

Braskem is a Brazilian petrochemical company that produces thermoplastic resins and basic petrochemicals used in packaging, construction, automotive manufacturing, consumer goods and other industries. Its products include polyethylene, polypropylene and polyvinyl chloride, as well as chemical building blocks such as ethylene and propylene. The company also makes bio-based plastics, including polyethylene produced from sugarcane-derived ethanol and marketed under its I’m green brand. These materials are designed to serve applications similar to those of conventional plastics.