Zacks: Analysts Expect Braskem S.A. (NYSE:BAK) Will Announce Earnings of $1.02 Per Share

Equities research analysts predict that Braskem S.A. (NYSE:BAK) will post $1.02 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Braskem’s earnings. Braskem reported earnings per share of ($0.66) in the same quarter last year, which indicates a positive year over year growth rate of 254.5%. The company is expected to issue its next earnings report on Thursday, November 11th.

On average, analysts expect that Braskem will report full-year earnings of $6.58 per share for the current financial year. For the next financial year, analysts anticipate that the firm will post earnings of $3.90 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Braskem.

Braskem (NYSE:BAK) last released its quarterly earnings data on Tuesday, August 3rd. The company reported $3.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.22 by $1.30. Braskem had a net margin of 11.24% and a negative return on equity of 811.92%.

Several brokerages have commented on BAK. UBS Group upgraded shares of Braskem from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Braskem from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Friday, July 23rd. Finally, TheStreet raised shares of Braskem from a “c-” rating to a “b-” rating in a research report on Friday, August 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Braskem presently has an average rating of “Buy” and a consensus price target of $20.33.

Several hedge funds and other institutional investors have recently modified their holdings of BAK. Natixis Advisors L.P. bought a new position in shares of Braskem during the first quarter valued at $200,000. BlackRock Inc. bought a new position in shares of Braskem in the first quarter valued at about $32,000. Acadian Asset Management LLC bought a new position in shares of Braskem in the first quarter valued at about $1,264,000. UBS Group AG raised its holdings in shares of Braskem by 225.7% in the first quarter. UBS Group AG now owns 4,654 shares of the company’s stock valued at $66,000 after buying an additional 3,225 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Braskem by 588.3% in the first quarter. JPMorgan Chase & Co. now owns 90,935 shares of the company’s stock valued at $1,293,000 after buying an additional 77,724 shares during the last quarter.

Shares of BAK stock traded down $1.07 during trading hours on Friday, reaching $25.25. The stock had a trading volume of 3,843 shares, compared to its average volume of 266,711. The firm has a 50-day simple moving average of $23.42 and a 200-day simple moving average of $20.03. The firm has a market capitalization of $10.06 billion, a PE ratio of 5.98 and a beta of 1.66. The company has a debt-to-equity ratio of 5.44, a current ratio of 1.26 and a quick ratio of 0.85. Braskem has a twelve month low of $7.00 and a twelve month high of $26.93.

Braskem Company Profile

Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.

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