Braskem S.A. (NYSE:BAK) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Braskem S.A. has received an average recommendation of "Reduce" from six research firms, with one firm issuing a sell and five giving a hold rating.
• Shares of Braskem traded down 5.7% to $2.41, with a twelve-month low of $2.35 and a high of $6.84.
• The company reported an earnings per share (EPS) of (0.14), beating consensus estimates significantly, although revenue fell short of expectations at $3.38 billion.

Shares of Braskem S.A. (NYSE:BAK - Get Free Report) have earned an average recommendation of "Reduce" from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.40.

A number of research firms have commented on BAK. Weiss Ratings restated a "sell (e+)" rating on shares of Braskem in a research report on Wednesday. Citigroup cut Braskem from a "buy" rating to a "neutral" rating in a research note on Friday. UBS Group cut Braskem from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $5.10 to $3.80 in a research note on Friday, September 26th. JPMorgan Chase & Co. lowered their price objective on Braskem from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday, August 27th. Finally, Zacks Research cut Braskem from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th.

Braskem Trading Down 5.7%

BAK traded down $0.15 during trading on Friday, hitting $2.41. The company's stock had a trading volume of 748,980 shares, compared to its average volume of 956,097. Braskem has a twelve month low of $2.35 and a twelve month high of $6.84. The business's fifty day simple moving average is $3.07 and its 200 day simple moving average is $3.39. The firm has a market capitalization of $958.64 million, a price-to-earnings ratio of -0.95 and a beta of 1.76.

Braskem (NYSE:BAK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.56. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $18.76 billion. As a group, equities research analysts forecast that Braskem will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Braskem

A number of large investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda boosted its position in shares of Braskem by 1,136,346.5% in the 1st quarter. Kapitalo Investimentos Ltda now owns 1,466,016 shares of the company's stock valued at $5,644,000 after purchasing an additional 1,465,887 shares during the period. Jump Financial LLC boosted its position in shares of Braskem by 607.1% in the 2nd quarter. Jump Financial LLC now owns 263,771 shares of the company's stock valued at $865,000 after purchasing an additional 226,467 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Braskem in the 1st quarter valued at about $532,000. American Century Companies Inc. boosted its position in shares of Braskem by 12.6% in the 1st quarter. American Century Companies Inc. now owns 110,035 shares of the company's stock valued at $424,000 after purchasing an additional 12,300 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new stake in Braskem during the 1st quarter valued at approximately $248,000.

Braskem Company Profile

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.

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