Basf (OTCMKTS:BASFY) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Basf (OTCMKTS:BASFY) from an overweight rating to a neutral rating in a research report released on Tuesday, The Fly reports.

A number of other brokerages have also weighed in on BASFY. Goldman Sachs Group upgraded DUFRY AG/ADR to a hold rating in a research note on Friday, July 5th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Societe Generale restated a hold rating on shares of Basf in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold.

Shares of BASFY opened at $16.81 on Tuesday. The business’s 50-day moving average is $17.29. The stock has a market cap of $62.14 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.84 and a quick ratio of 1.35. Basf has a 52-week low of $16.30 and a 52-week high of $24.75.

Basf (OTCMKTS:BASFY) last announced its earnings results on Friday, May 3rd. The basic materials company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $18.37 billion for the quarter. Basf had a return on equity of 14.01% and a net margin of 6.94%. As a group, research analysts predict that Basf will post 1.3 earnings per share for the current year.

About Basf

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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