Braskem (NYSE:BAK) Posts Earnings Results, Beats Expectations By $0.27 EPS

Braskem (NYSE:BAK - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.03 by $0.27, Zacks reports. Braskem had a negative net margin of 9.88% and a negative return on equity of 439.59%. The company had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $22.86 billion.

Braskem Stock Down 0.7%

Shares of BAK traded down $0.03 during mid-day trading on Friday, hitting $3.61. The company had a trading volume of 780,238 shares, compared to its average volume of 790,710. The business's 50-day simple moving average is $3.65 and its 200-day simple moving average is $4.25. Braskem has a 1-year low of $2.85 and a 1-year high of $7.96. The stock has a market cap of $1.44 billion, a PE ratio of -1.02 and a beta of 1.83.

Analyst Ratings Changes

Separately, Scotiabank cut shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, March 3rd.

About Braskem

Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.