Bayer AG (BAYRY) Upgraded by Zacks Investment Research to “Buy”
Bayer AG (NASDAQ:BAYRY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $148.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.77% from the company’s previous close.
According to Zacks, “Bayer surpassed earnings estimates but missed revenue estimates in the second quarter of 2017. The company experienced a significant decline in sales and earnings in the Crop Science segment due to high channel inventories in Brazil. Business at Consumer Health decreased, primarily due to the difficult market environment in the U.S. Based on this, the company lowered its revenue and earnings outlook for 2017. The company is facing generic threats/competition for many of its products including the Yaz franchise (oral contraceptives). The genericization of key drugs would negatively impact revenues. Nevertheless, the company is looking forward to acquire Monsanto Company in a deal worth approximately $66 billion. With the acquisition, the combined enterprise will be able to bring innovations to the market faster and provide its customers with better solutions. Yet, Bayer’s shares have outperformed the Zacks classified industry year to date.”
Separately, Berenberg Bank cut shares of Bayer AG from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $148.00.
Shares of Bayer AG (BAYRY) traded up 0.06% during mid-day trading on Tuesday, hitting $132.50. The stock had a trading volume of 47,428 shares. The company has a market cap of $115.55 billion and a PE ratio of 19.16. Bayer AG has a one year low of $91.53 and a one year high of $139.04. The firm’s 50 day moving average price is $128.15 and its 200-day moving average price is $125.39.
Bayer AG (NASDAQ:BAYRY) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.12. The firm had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $14.45 billion. Bayer AG had a net margin of 10.90% and a return on equity of 13.03%. On average, equities research analysts anticipate that Bayer AG will post $8.99 earnings per share for the current fiscal year.
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About Bayer AG
Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Animal Health and Covestro. The Pharmaceuticals segment focuses on prescription products, especially for cardiology and women’s healthcare, and on specialty therapeutics in the areas of oncology, hematology and ophthalmology.
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