Basf (OTCMKTS:BASFY) Coverage Initiated at Citigroup

Key Points

• Citigroup has initiated coverage on Basf (OTCMKTS:BASFY) with a "buy" rating, indicating positive expectations for the stock's performance.
• Current consensus among analysts includes five Buy ratings, one Hold rating, and two Sell ratings, reflecting a mixed outlook.
• Basf recently reported earnings per share (EPS) of $0.14, missing estimates, while revenue surpassed expectations at $18.10 billion for the quarter ending July 30th.

Analysts at Citigroup initiated coverage on shares of Basf (OTCMKTS:BASFY - Get Free Report) in a research note issued on Wednesday. The brokerage set a "buy" rating on the basic materials company's stock.

Other research analysts have also recently issued research reports about the company. Zacks Research upgraded Basf from a "strong sell" rating to a "hold" rating in a research report on Friday, October 10th. Morgan Stanley raised shares of Basf from an "equal weight" rating to an "overweight" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Basf in a research report on Wednesday, September 24th. Finally, Berenberg Bank lowered Basf from a "hold" rating to a "sell" rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Basf Price Performance

Shares of OTCMKTS:BASFY opened at $12.10 on Wednesday. Basf has a 52 week low of $10.57 and a 52 week high of $14.76. The company has a 50-day moving average price of $12.96 and a 200 day moving average price of $12.48. The company has a market cap of $43.20 billion, a P/E ratio of 93.09, a PEG ratio of 15.01 and a beta of 1.07. The company has a quick ratio of 1.07, a current ratio of 1.83 and a debt-to-equity ratio of 0.51.

Basf (OTCMKTS:BASFY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.06). The business had revenue of $18.10 billion for the quarter, compared to analysts' expectations of $15.62 billion. Basf had a return on equity of 7.17% and a net margin of 0.59%. Research analysts predict that Basf will post 0.83 earnings per share for the current year.

Basf Company Profile

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for plastics and plastics processing industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.