Braskem S.A. (NYSE:BAK - Get Free Report) reached a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.69 and last traded at $3.69, with a volume of 1142680 shares. The stock had previously closed at $3.97.
The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.01). The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.52 billion. Braskem had a negative return on equity of 439.59% and a negative net margin of 9.88%.
Wall Street Analyst Weigh In
Separately, Scotiabank cut shares of Braskem from a "sector outperform" rating to a "sector perform" rating in a research report on Monday.
Check Out Our Latest Stock Report on Braskem
Hedge Funds Weigh In On Braskem
Institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC boosted its stake in Braskem by 19.4% during the fourth quarter. HighTower Advisors LLC now owns 19,213 shares of the company's stock worth $74,000 after buying an additional 3,126 shares during the period. Point72 Asset Management L.P. raised its position in Braskem by 2.3% during the 4th quarter. Point72 Asset Management L.P. now owns 180,900 shares of the company's stock valued at $698,000 after purchasing an additional 4,100 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Braskem by 876.1% in the third quarter. JPMorgan Chase & Co. now owns 5,427 shares of the company's stock valued at $40,000 after acquiring an additional 4,871 shares in the last quarter. State Street Corp lifted its position in shares of Braskem by 2.3% in the 3rd quarter. State Street Corp now owns 228,110 shares of the company's stock worth $1,674,000 after purchasing an additional 5,124 shares during the period. Finally, MQS Management LLC bought a new position in Braskem in the third quarter worth approximately $77,000.
Braskem Stock Performance
The stock has a market capitalization of $1.40 billion, a PE ratio of -0.99 and a beta of 2.03. The business has a 50 day moving average of $4.28 and a two-hundred day moving average of $5.41.
Braskem Company Profile
(
Get Free Report)
Braskem SA, together with its subsidiaries, produces and sells thermoplastic resins. The company operates through three segments: Brazil, United States and Europe, and Mexico. The Brazil segment produces and sells olefins, including ethylene, polymer and chemical grade propylene, butadiene, and butene-1; benzene, toluene, and xylenes products; fuels, such as automotive gasoline, liquefied petroleum gas, ethyl tertiary-butyl ether, and methyl tertiary-butyl ether; intermediates, such as cumene; aliphatics, aromatics, and hydrogenated solvents; and specialties comprising isoprene, dicyclopentadiene, piperylene, nonene, tetramer, polyisobutylene, and hydrocarbon resins.
Further Reading
Before you consider Braskem, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Braskem wasn't on the list.
While Braskem currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
