|Bid||60.06 x 22800|
|Ask||60.08 x 59200|
|Day's Range||59.48 - 60.20|
|52 Week Range||39.47 - 64.58|
|Beta (3Y Monthly)||1.57|
|PE Ratio (TTM)||15.24|
|Earnings Date||Mar 11, 2020|
|Forward Dividend & Yield||0.90 (1.50%)|
|1y Target Est||64.56|
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The German specialty-chemical company said that net profit dropped 14% to 69 million euros ($76.1 million) from EUR80 million in the same period last year.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Lanxess AG and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
German chemical groups Bayer and Lanxess have agreed to sell integrated chemical site operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) for an enterprise value of 3.5 billion euros ($3.9 billion). Reuters reported last September initial plans by Bayer to divest its 60% stake in the chemical park operator, part of a string of assets it has put on the block to slash debt since its $63 billion takeover of Monsanto last year.
Germany's Lanxess said on Thursday weak demand from Chinese automakers for its plastics business, offset by a better outlook for agrochemical ingredients, would lead to flat operating earnings this year. Lanxess said it had seen a solid start to the year despite a weakening economy, predicting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, for 2019 to be around last year's 1.02 billion euros (871.1 million pounds), which was up almost 10 percent on 2017. Analysts at Credit Suisse said a change in international accounting standards was flattering the guidance.
Macquarie has emerged as the leading bidder for Bayer's 60 percent stake in chemical park operator Currenta, which the German drugmaker has put on the block to reduce its debt pile, people close to the matter said. Talks between Bayer and the Australian bank's Macquarie Infrastructure and Real Assets (MIRA) arm will likely continue for a few more weeks and the deal could still fall apart given the complexity of the negotiations, they added. If no deal emerges, Bayer may fall back on runner-ups DWS and KKR, the sources said, adding that it was unclear whether the Ontario Municipal Employees Retirement System, which also made a final bid in January, was still interested.