Basf (OTCMKTS:BASFY) Shares Gap Down - Here's Why

Key Points

• BASF shares gapped down before Wednesday’s open, falling from a prior close of $14.04 to an opening price of $13.46 and last trading around $13.57.
• Despite the weakness, analysts remain broadly positive on the stock: BASF has an average rating of “Moderate Buy”, with recent upgrades and reiterated buy/overweight ratings from several firms.
• The company’s latest quarter beat expectations, with EPS of $0.39 versus the $0.31 consensus and revenue of $18.74 billion; BASF also has a market cap of about $48.8 billion and a forward-looking EPS estimate of 0.82 for the fiscal year.

Shares of Basf Se (OTCMKTS:BASFY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $14.04, but opened at $13.46. Basf shares last traded at $13.57, with a volume of 10,570 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BASFY shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Basf in a research note on Tuesday, May 5th. Citigroup reiterated a "buy" rating on shares of Basf in a report on Friday, April 24th. Morgan Stanley reissued an "overweight" rating on shares of Basf in a research report on Tuesday, May 12th. Kepler Capital Markets raised shares of Basf from a "hold" rating to a "buy" rating in a research report on Thursday, June 11th. Finally, Zacks Research upgraded shares of Basf from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Basf currently has an average rating of "Moderate Buy".

Basf Price Performance

The company's 50 day moving average is $14.40 and its 200 day moving average is $14.31. The company has a current ratio of 1.93, a quick ratio of 1.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $48.80 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.74.

Basf (OTCMKTS:BASFY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The company had revenue of $18.74 billion during the quarter, compared to the consensus estimate of $18.44 billion. Basf had a net margin of 2.91% and a return on equity of 3.90%. Research analysts anticipate that Basf Se will post 0.82 EPS for the current fiscal year.

Basf Company Profile

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world's largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF's activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.

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