Basf (OTCMKTS:BASFY) Downgraded by Berenberg Bank to "Sell"

Key Points

• BASF has been downgraded from a "hold" rating to a "sell" rating by Berenberg Bank, reflecting a shift in analyst sentiment towards the company's stock.
• Despite the downgrade, there are mixed ratings from analysts, with five maintaining a "buy" rating and one a "hold," indicating divided opinions about BASF's prospects.
• BASF reported earnings of $0.14 per share, below the $0.20 consensus estimate, though it exceeded revenue expectations with $18.10 billion for the quarter.

Basf (OTCMKTS:BASFY - Get Free Report) was downgraded by equities research analysts at Berenberg Bank from a "hold" rating to a "sell" rating in a report issued on Tuesday,Briefing.com Automated Import reports.

BASFY has been the topic of several other research reports. Morgan Stanley upgraded shares of Basf from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 24th. Zacks Research upgraded shares of Basf from a "strong sell" rating to a "hold" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Basf in a research report on Wednesday, September 24th. Finally, Citigroup upgraded shares of Basf from a "hold" rating to a "buy" rating in a research report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

Basf Trading Up 1.0%

BASFY stock opened at $12.33 on Tuesday. The company's 50-day simple moving average is $12.96 and its 200-day simple moving average is $12.49. Basf has a 52-week low of $10.57 and a 52-week high of $14.76. The firm has a market cap of $44.02 billion, a P/E ratio of 94.85, a PEG ratio of 14.86 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 announced its earnings results on Wednesday, July 30th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). Basf had a net margin of 0.59% and a return on equity of 7.17%. The company had revenue of $18.10 billion during the quarter, compared to analyst estimates of $15.62 billion. As a group, equities analysts forecast that Basf will post 0.83 EPS for the current fiscal year.

About Basf

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.

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