Braskem (NYSE:BAK) Announces Quarterly Earnings Results

Braskem (NYSE:BAK) issued its quarterly earnings results on Thursday. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.64 billion.

Braskem Price Performance

BAK stock traded up $0.06 on Thursday, hitting $1.16. 1,832,007 shares of the company were exchanged, compared to its average volume of 3,266,536. The stock has a market capitalization of $460.38 million, a price-to-earnings ratio of 0.39, a price-to-earnings-growth ratio of 0.07 and a beta of 1.68. Braskem has a twelve month low of $0.74 and a twelve month high of $5.39. The business’s fifty day moving average is $1.58 and its two-hundred day moving average is $2.93.

Wall Street Analyst Weigh In

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

Braskem Company Profile

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.