|Bid||140.65 x 0|
|Ask||143.55 x 0|
|Day's range||139.35 - 145.90|
|52-week range||99.16 - 186.90|
|Beta (5Y monthly)||1.47|
|PE ratio (TTM)||5.44|
|Forward dividend & yield||12.00 (8.45%)|
|Ex-dividend date||18 May 2023|
|1y target est||N/A|
(Reuters) -German chemicals maker Wacker Chemie on Tuesday forecast a drop in its 2023 core earnings, citing significantly lower selling prices, higher energy costs and tepid economic growth. European chemicals firms have painted a bleak picture of their 2023 prospects this month, citing the continued fallout from Russia's invasion of Ukraine, high inflation and slowing economic growth, and with executives stressing that an uncertain geopolitical and economic environment were likely to peg back earnings this year. Wacker sees sales of between 7 billion and 7.5 billion euros this year, down from 8.21 billion posted in 2022.
According to preliminary figures, the Munich-based firm achieved an EBITDA of 360 million euros ($390.67 million) for the fourth quarter, 14% less than forecast according to a Vara consensus, which saw it at 420 million euros. Wacker Silicones saw its yearly EBITDA rise by 58% year-on-year, climbing to 875 million euros, thanks to better selling prices for silicones as well as an ever-increasing share of high-margin speciality products in its portfolio, the firm said. Wacker Chemie, one of the world's biggest suppliers of solar-grade polysilicon, has benefited from strong demand and high prices for the material, the supply of which has growin tighter due to production issues and maintenance shutdowns.
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