Braskem (NYSE:BAK) Announces Earnings Results

Braskem (NYSE:BAK) announced its quarterly earnings data 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 company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.64 billion.

Braskem Stock Performance

NYSE BAK traded up $0.06 during trading hours on Thursday, reaching $1.16. The stock had a trading volume of 1,832,007 shares, compared to its average volume of 3,266,536. Braskem has a 52-week low of $0.74 and a 52-week high of $5.39. The stock has a market cap of $460.38 million, a P/E ratio of -0.48, a price-to-earnings-growth ratio of 0.07 and a beta of 1.68. The stock has a fifty day moving average of $1.58 and a 200 day moving average of $2.93.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HSBC downgraded Braskem from a “buy” rating to a “hold” rating and lowered their price target 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 note on Saturday, October 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Braskem in a research note on Thursday, October 15th. Finally, UBS Group downgraded shares of Braskem from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.00 to $1.50 in a research note on Tuesday, September 15th. Three equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Braskem presently 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.