Zacks: Brokerages Expect Braskem SA ADR (BAK) to Post $0.35 Earnings Per Share

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Brokerages forecast that Braskem SA ADR (NYSE:BAK) will announce earnings per share (EPS) of $0.35 for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Braskem’s earnings. Braskem posted earnings of $0.81 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 56.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that Braskem will report full year earnings of $2.30 per share for the current year. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.15 per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Braskem.

A number of brokerages have weighed in on BAK. Zacks Investment Research downgraded Braskem from a “buy” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised Braskem from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st.

NYSE BAK traded up $0.02 during trading on Friday, reaching $24.83. 240,028 shares of the company’s stock were exchanged, compared to its average volume of 454,742. The company has a market cap of $10.01 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.79 and a beta of 1.23. The company has a quick ratio of 0.56, a current ratio of 0.93 and a debt-to-equity ratio of 4.50. Braskem has a fifty-two week low of $21.32 and a fifty-two week high of $30.52.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc increased its holdings in shares of Braskem by 45.5% during the fourth quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the energy company’s stock worth $78,000 after buying an additional 1,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in Braskem during the third quarter valued at $131,000. Nordea Investment Management AB bought a new stake in Braskem during the third quarter valued at $338,000. SG Americas Securities LLC boosted its position in Braskem by 58.1% during the third quarter. SG Americas Securities LLC now owns 13,459 shares of the energy company’s stock valued at $389,000 after acquiring an additional 4,948 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Braskem during the third quarter valued at $402,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through Chemicals, Polyolefins, Vinyls, United States and Europe, and Mexico segments. The Chemicals segment produces and sells ethylene, propylene butadiene, toluene, xylene, cumene, and benzene, as well as gasoline, diesel and liquefied petroleum gas, and other petroleum derivatives; and supplies electric energy, steam, compressed air, and other inputs to second-generation producers.

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