BASF SE (BASFY) closed the most recent trading day at $12.47, moving +0.56% from the previous trading session. This change outpaced the S&P 500's 1.65% loss on the day. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Coming into today, shares of the company had lost 10.66% in the past month. In that same time, the Basic Materials sector lost 2.51%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from BASF SE as it approaches its next earnings report date.
BASFY's full-year Zacks Consensus Estimates are calling for earnings of $1.18 per share and revenue of $89.78 billion. These results would represent year-over-year changes of -35.52% and -2.65%, respectively.
Investors might also notice recent changes to analyst estimates for BASF SE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.02% lower. BASF SE is currently a Zacks Rank #3 (Hold).
Investors should also note BASF SE's current valuation metrics, including its Forward P/E ratio of 10.54. Its industry sports an average Forward P/E of 12.84, so we one might conclude that BASF SE is trading at a discount comparatively.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BASFY in the coming trading sessions, be sure to utilize Zacks.com.
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