Basf (OTCMKTS:BASFY) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• BASF shares moved above their 50-day moving average, trading as high as $14.8550 before closing at $14.77, compared with the moving average of $14.03.
• Analyst sentiment is broadly positive: Kepler Capital Markets upgraded BASFY to “buy,” while other major firms maintained buy or overweight ratings. MarketBeat’s consensus rating is “Moderate Buy.”
• BASF exceeded quarterly expectations, reporting $0.37 in EPS versus the $0.24 consensus estimate and revenue of $19.99 billion against forecasts of $18.85 billion.

Basf Se (OTCMKTS:BASFY - Get Free Report)'s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.03 and traded as high as $14.8550. Basf shares last traded at $14.77, with a volume of 135,311 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BASFY shares. Kepler Capital Markets raised Basf from a "hold" rating to a "buy" rating in a research note on Thursday, June 11th. Citigroup reissued a "buy" rating on shares of Basf in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Basf in a research note on Tuesday, May 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Basf in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Basf Stock Performance

The business has a 50 day moving average of $14.03 and a 200 day moving average of $14.45. The company has a market capitalization of $52.73 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a quick ratio of 1.26, a current ratio of 1.91 and a debt-to-equity ratio of 0.56.

Basf (OTCMKTS:BASFY - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. The business had revenue of $19.99 billion for the quarter, compared to the consensus estimate of $18.85 billion. Basf had a return on equity of 5.78% and a net margin of 9.40%. On average, sell-side analysts predict that Basf Se will post 0.85 earnings per share for the current 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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