Zacks Reiterates “Neutral” Rating for Bayer AG (BAYRY)
Bayer AG (NASDAQ:BAYRY)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday. They currently have a $152.00 price objective on the stock. Zacks‘s target price points to a potential upside of 5.01% from the company’s current price.
Zacks’ analyst wrote, “Bayer’s earnings per share during the first quarter of 2014 came in at 1.95 (approx. $2.67) compared with 1.70 (approx. $2.25) in the year-ago period. Bayer expects 2014 sales of around 41- 42 billion, an increase of 5% from the 2013 figure. The company’s new drugs performed impressively in the first quarter of 2014 and are expected to do so in the coming quarters as well. We are also pleased with Bayer’s impending acquisition of Merck’s consumer health unit. However, we remain concerned about the company’s Material Science segment, which has performed below par over the last few quarters. We maintain our Neutral stance on the stock.”
Shares of Bayer AG (NASDAQ:BAYRY) traded up 1.38% during mid-day trading on Friday, hitting $144.75. The stock had a trading volume of 24,224 shares. Bayer AG has a 52 week low of $102.92 and a 52 week high of $145.20. The stock’s 50-day moving average is $142.1 and its 200-day moving average is $137.1. The company has a market cap of $119.7 billion and a P/E ratio of 25.07.
Bayer AG (NASDAQ:BAYRY) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $2.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.47 by $0.12. On average, analysts predict that Bayer AG will post $7.99 earnings per share for the current fiscal year.
Bayer AG is a German management holding company with core competencies in the field of health care, nutrition and high-tech materials.
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