Braskem S.A. (NYSE:BAK) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Braskem S.A. (NYSE:BAK) have earned an average recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $3.40.

A number of research analysts recently issued reports on BAK shares. Bank of America downgraded Braskem from a “neutral” rating to an “underperform” rating and set a $2.80 price objective for the company. in a research note on Thursday, March 26th. Bradesco Corretora downgraded Braskem from an “outperform” rating to an “underperform” rating and set a $1.50 price objective for the company. in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Braskem in a research note on Monday, April 20th. Citigroup upgraded Braskem from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, Zacks Research downgraded Braskem from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Braskem by 178,471.4% in the 1st quarter. Bank of America Corp DE now owns 50,000 shares of the company’s stock worth $183,000 after purchasing an additional 49,972 shares in the last quarter. Brooklands Fund Management Ltd purchased a new position in Braskem in the 1st quarter worth approximately $2,013,000. Cetera Investment Advisers purchased a new position in Braskem in the 1st quarter worth approximately $51,000. Private Advisor Group LLC purchased a new position in Braskem in the 1st quarter worth approximately $157,000. Finally, SmartHarvest Portfolios LLC lifted its holdings in Braskem by 49.7% in the 1st quarter. SmartHarvest Portfolios LLC now owns 54,466 shares of the company’s stock worth $199,000 after purchasing an additional 18,085 shares in the last quarter.

Braskem Stock Down 10.9%

Braskem stock opened at $3.33 on Wednesday. The business has a 50-day simple moving average of $3.98 and a two-hundred day simple moving average of $3.69. The company has a market cap of $1.33 billion, a P/E ratio of -0.79, a P/E/G ratio of 0.08 and a beta of 1.57. Braskem has a 52-week low of $2.32 and a 52-week high of $5.39.

Braskem (NYSE:BAK) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.48. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.39 billion. Braskem had a negative return on equity of 23.17% and a negative net margin of 13.72%. Research analysts anticipate that Braskem will post 3.15 EPS for the current fiscal year.

Braskem Company Profile

Braskem (NYSE:BAK) is a leading integrated petrochemical company based in São Paulo, Brazil, and holds the distinction of being the largest thermoplastic resins producer in Latin America. The company operates across the entire value chain, from feedstock sourcing and polymer production to distribution and recycling. Braskem’s comprehensive approach to petrochemical manufacturing enables it to serve a diverse set of end markets with a broad portfolio of products.

Braskem’s core product lines include polypropylene, polyethylene and polyvinyl chloride (PVC), which are used in industries such as packaging, automotive, construction and electrical & electronics.