Braskem (NYSE:BAK) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Braskem (NYSE:BAK) posted its earnings results on Monday. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.03 by $0.27, Zacks reports. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $22.86 billion.

Braskem Stock Up 5.1%

Shares of BAK stock opened at $3.81 on Tuesday. The company has a 50 day moving average price of $3.64 and a 200-day moving average price of $4.30. Braskem has a 52 week low of $2.85 and a 52 week high of $7.96. The firm has a market capitalization of $1.52 billion, a PE ratio of -1.07 and a beta of 1.83.

Analysts Set New Price Targets

Separately, Scotiabank cut shares of Braskem from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, March 3rd.

Braskem Company Profile

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.