JPMorgan Chase & Co. Downgrades Basf (OTCMKTS:BASFY) to Underweight

JPMorgan Chase & Co. lowered shares of Basf (OTCMKTS:BASFY) from a neutral rating to an underweight rating in a research report sent to investors on Thursday, Marketbeat reports.

BASFY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Basf in a report on Friday, March 7th. Berenberg Bank lowered Basf from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Basf Stock Performance

OTCMKTS:BASFY opened at $12.92 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.87 and a quick ratio of 1.03. The company has a market cap of $46.13 billion, a price-to-earnings ratio of 80.76, a PEG ratio of 2.30 and a beta of 1.16. Basf has a 1 year low of $10.57 and a 1 year high of $14.89. The stock’s 50 day simple moving average is $12.93 and its two-hundred day simple moving average is $12.20.

Basf (OTCMKTS:BASFY) last released its quarterly earnings results on Friday, February 28th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Basf had a net margin of 0.78% and a return on equity of 6.63%. The company had revenue of $16.92 billion for the quarter, compared to the consensus estimate of $15.72 billion. As a group, equities analysts anticipate that Basf will post 0.83 earnings per share for the current fiscal 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 comprising isocyanates, polyamides, and inorganic basic products, as well as specialties for plastics and plastics processing industries.