Braskem (BAK) Scheduled to Post Earnings on Wednesday

Braskem (NYSE:BAK – Get Rating) will be releasing its earnings data after the market closes on Wednesday, March 22nd. Analysts expect Braskem to post earnings of ($1.09) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Braskem Stock Down 2.5 %

Shares of NYSE:BAK opened at $7.03 on Wednesday. The business’s 50 day simple moving average is $8.39 and its two-hundred day simple moving average is $10.17. The firm has a market cap of $3.18 billion, a P/E ratio of 8.17 and a beta of 1.69. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.89 and a current ratio of 1.55. Braskem has a 52-week low of $7.00 and a 52-week high of $19.84.

Analysts Set New Price Targets

Separately, UBS Group lowered Braskem from a “buy” rating to a “neutral” rating in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BAK. Renaissance Technologies LLC increased its position in shares of Braskem by 160.6% during the first quarter. Renaissance Technologies LLC now owns 324,500 shares of the company’s stock valued at $6,049,000 after acquiring an additional 200,000 shares during the last quarter. Morgan Stanley increased its position in shares of Braskem by 194.1% during the fourth quarter. Morgan Stanley now owns 192,734 shares of the company’s stock valued at $1,773,000 after acquiring an additional 127,203 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Braskem during the fourth quarter valued at approximately $844,000. Squarepoint Ops LLC purchased a new stake in shares of Braskem during the fourth quarter valued at approximately $418,000. Finally, Jane Street Group LLC increased its position in shares of Braskem by 286.2% during the third quarter. Jane Street Group LLC now owns 57,360 shares of the company’s stock valued at $559,000 after acquiring an additional 42,507 shares during the last quarter. Institutional investors own 0.01% of the company’s stock.

About Braskem

(Get Rating)

Braskem SA engages in the manufacture of petrochemicals and other related products. It operates through the following segments: Brazil, USA, and Europe and Mexico. The Brazil segment includes production and sale of chemicals, supply of electricity, and production and sale of PE. The USA and Europe segment involves production, operation, and sale of polypropylene in the United States and Germany.