Zacks Investment Research Upgrades Basf (BASFY) to Hold

Basf (OTCMKTS:BASFY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other brokerages also recently weighed in on BASFY. Macquarie downgraded shares of Basf from an “outperform” rating to a “neutral” rating in a research report on Thursday, November 29th. Sanford C. Bernstein initiated coverage on shares of Basf in a research report on Monday, September 24th. They set a “market perform” rating on the stock. Barclays downgraded shares of Basf from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 29th. JPMorgan Chase & Co. upgraded shares of Basf from a “neutral” rating to an “overweight” rating in a research report on Thursday. Finally, ValuEngine upgraded shares of Basf from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold”.

Shares of Basf stock opened at $18.17 on Thursday. The company has a market cap of $67.60 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.04 and a beta of 1.02. Basf has a twelve month low of $16.35 and a twelve month high of $30.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 2.07.

Basf (OTCMKTS:BASFY) last issued its quarterly earnings data on Friday, October 26th. The basic materials company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). The company had revenue of $18.14 billion for the quarter. Basf had a net margin of 9.07% and a return on equity of 17.41%. On average, research analysts anticipate that Basf will post 1.82 earnings per share for the current fiscal year.

About Basf

BASF SE operates as a chemical company worldwide. It operates through five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions, and Oil & Gas. The Chemicals segment offers solvents, plasticizers, monomers, and glues, as well as raw materials for detergents, plastics, textile fibers, paints and coatings, crop protection products, and medicines.

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