Braskem S.A. (NYSE:BAK) Given Consensus Recommendation of “Hold” by Brokerages

Braskem S.A. (NYSE:BAKGet Rating) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.40.

A number of analysts have issued reports on BAK shares. Zacks Investment Research cut shares of Braskem from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 12th. TheStreet upgraded shares of Braskem from a “c” rating to a “b” rating in a research note on Thursday, May 12th.

Braskem stock opened at $18.03 on Friday. The firm’s 50 day simple moving average is $17.77 and its 200-day simple moving average is $18.64. The company has a market cap of $8.14 billion, a P/E ratio of 2.46, a price-to-earnings-growth ratio of 0.45 and a beta of 1.69. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.63 and a quick ratio of 0.94. Braskem has a fifty-two week low of $15.09 and a fifty-two week high of $26.93.

Braskem (NYSE:BAKGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $2.51 by ($2.27). The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.23 billion. Braskem had a return on equity of 156.07% and a net margin of 14.18%. On average, analysts expect that Braskem will post 4.03 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in Braskem by 10.8% during the first quarter. Acadian Asset Management LLC now owns 554,666 shares of the company’s stock worth $10,336,000 after acquiring an additional 54,015 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Braskem by 160.6% in the 1st quarter. Renaissance Technologies LLC now owns 324,500 shares of the company’s stock valued at $6,049,000 after purchasing an additional 200,000 shares in the last quarter. State Street Corp boosted its stake in shares of Braskem by 19.8% in the 1st quarter. State Street Corp now owns 251,227 shares of the company’s stock valued at $4,683,000 after purchasing an additional 41,461 shares in the last quarter. Todd Asset Management LLC boosted its stake in shares of Braskem by 16.2% in the 1st quarter. Todd Asset Management LLC now owns 185,500 shares of the company’s stock valued at $3,458,000 after purchasing an additional 25,800 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Braskem by 63.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 159,700 shares of the company’s stock valued at $3,368,000 after purchasing an additional 62,200 shares in the last quarter. Institutional investors and hedge funds own 0.25% of the company’s stock.

About Braskem (Get Rating)

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 chemicals, including ethylene, polymer and chemical grade propylene, butadiene, 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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Analyst Recommendations for Braskem (NYSE:BAK)

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