Citigroup Initiates Coverage on Basf (OTCMKTS:BASFY)

Citigroup initiated coverage on shares of Basf (OTCMKTS:BASFY) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the basic materials company’s stock.

BASFY has been the subject of a number of other reports. Morgan Stanley raised Basf from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 24th. Zacks Research raised Basf from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Basf in a report on Wednesday, September 24th. Finally, Berenberg Bank downgraded Basf from a “hold” rating to a “sell” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Basf Price Performance

Shares of OTCMKTS BASFY opened at $12.50 on Wednesday. The business’s 50 day moving average price is $12.95 and its 200 day moving average price is $12.48. The firm has a market cap of $44.61 billion, a P/E ratio of 96.12, a P/E/G ratio of 14.38 and a beta of 1.07. Basf has a 52 week low of $10.57 and a 52 week high of $14.76. The company has a quick ratio of 1.07, a current ratio of 1.83 and a debt-to-equity ratio of 0.51.

Basf (OTCMKTS:BASFY) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). Basf had a net margin of 0.59% and a return on equity of 7.17%. The firm had revenue of $18.10 billion during the quarter, compared to analysts’ expectations of $15.62 billion. On average, sell-side analysts expect that Basf will post 0.83 earnings per share for the current year.

About Basf

BASF SE operates as a chemical company worldwide. It operates through six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The Chemicals segment provides petrochemicals and intermediates. The Materials segment offers advanced materials and their precursors for applications and systems comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for plastics and plastics processing industries.