Zacks: Brokerages Expect Braskem S.A. (NYSE:BAK) Will Announce Earnings of $1.02 Per Share

Equities analysts expect Braskem S.A. (NYSE:BAK) to report earnings of $1.02 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Braskem’s earnings. Braskem posted earnings per share of ($0.66) during the same quarter last year, which would suggest a positive year over year growth rate of 254.5%. The company is expected to issue its next earnings results on Thursday, November 11th.

On average, analysts expect that Braskem will report full-year earnings of $6.58 per share for the current year. For the next year, analysts expect that the business will post earnings of $3.90 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Braskem.

Braskem (NYSE:BAK) last issued its quarterly earnings data on Tuesday, August 3rd. The company reported $3.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.22 by $1.30. Braskem had a negative return on equity of 811.92% and a net margin of 11.24%.

A number of brokerages recently weighed in on BAK. TheStreet raised Braskem from a “c-” rating to a “b-” rating in a research note on Friday, August 13th. Zacks Investment Research raised Braskem from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Friday, July 23rd. Finally, UBS Group raised Braskem from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Braskem currently has an average rating of “Buy” and an average price target of $20.33.

Shares of BAK stock traded down $1.45 during trading on Friday, reaching $24.87. The company had a trading volume of 238,867 shares, compared to its average volume of 266,556. The firm’s 50 day simple moving average is $23.47 and its two-hundred day simple moving average is $20.18. The company has a debt-to-equity ratio of 5.44, a current ratio of 1.26 and a quick ratio of 0.85. Braskem has a one year low of $7.00 and a one year high of $26.93. The company has a market capitalization of $9.91 billion, a PE ratio of 5.65 and a beta of 1.66.

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Braskem by 134.6% during the second quarter. JPMorgan Chase & Co. now owns 213,302 shares of the company’s stock worth $5,085,000 after buying an additional 122,367 shares during the period. Millennium Management LLC grew its position in Braskem by 17.8% during the first quarter. Millennium Management LLC now owns 113,071 shares of the company’s stock worth $1,608,000 after buying an additional 17,069 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Braskem during the first quarter worth approximately $1,264,000. Renaissance Technologies LLC grew its position in Braskem by 116.8% during the second quarter. Renaissance Technologies LLC now owns 84,100 shares of the company’s stock worth $2,005,000 after buying an additional 45,300 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in Braskem by 105.4% during the first quarter. Citadel Advisors LLC now owns 69,259 shares of the company’s stock worth $985,000 after buying an additional 35,548 shares in the last quarter.

About Braskem

Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.

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