Basf (OTCMKTS:BASFY) Downgraded to “Strong Sell” at Zacks Investment Research
According to Zacks, “BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. “
BASFY has been the topic of a number of other research reports. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a research report on Tuesday. They issued an underweight rating and a $20.48 price target on the stock. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Societe Generale restated a hold rating on shares of Basf in a research report on Friday, April 5th. HSBC set a €6.90 ($8.02) price target on Deutsche Bank and gave the stock a neutral rating in a research report on Tuesday. Finally, Goldman Sachs Group upgraded DUFRY AG/ADR to a hold rating in a research report on Friday, July 5th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has an average rating of Hold.
Basf (OTCMKTS:BASFY) last issued its quarterly earnings results on Friday, May 3rd. The basic materials company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.09. Basf had a return on equity of 14.01% and a net margin of 6.94%. The company had revenue of $18.37 billion for the quarter. Research analysts anticipate that Basf will post 1.3 earnings per share for the current year.
Basf Company Profile
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, such as isocyanates and polyamides, as well as inorganic basic products and specialties for plastic and plastic processing industries.
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