Bayer AG 4Q 2016 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Bayer AG (BAYN.XE) fourth-quarter results, based on a poll of eight analysts conducted by Dow Jones Newswires (figures in million euros, EPS, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released February 22.

=== 
                             EBITDA   EBIT  Net attrib.  EPS 
4th Quarter           Sales    adj.   adj.      income  core 
AVERAGE              11,666   2,095  1,343         712  1.19 
Prev. Year           11,285   1,916  1,037         591  1.08 
+/- in %               +3.4    +9.3    +30         +20   +10 
 
MEDIAN               11,648   2,098  1,321         705  1.19 
Maximum              11,822   2,223  1,448         781  1.26 
Minimum              11,494   1,957  1,261         655  1.13 
Amount (a)                8       8      6           4     7 
 
Commerzbank          11,822   2,223  1,430         713  1.18 
Deutsche Bank        11,647   2,115  1,277         655  1.15 
Equinet              11,700   1,957     --          --  1.19 
Exane BNP Paribas    11,494   2,097  1,328         781  1.13 
Independent Research 11,800   2,050     --          --    -- 
Jefferies            11,634   2,177  1,448          --  1.26 
Warburg Research     11,648   2,098  1,314          --  1.25 
 
 
                Target price  Rating                DPS 2016 
AVERAGE               116.13  positive 6    AVERAGE     2.75 
Prev. Quarter         113.13  neutral  2    Prev. Year  2.50 
+/- in %                +2.6  negative 0    +/- in %     +10 
 
MEDIAN                118.00                MEDIAN      2.75 
Maximum               125.00                Maximum     2.92 
Minimum               103.00                Minimum     2.67 
Amount                     8                Amount         7 
 
Berenberg             118.00  Buy                       2.81 
Commerzbank           118.00  Buy                       2.70 
Deutsche Bank         120.00  Buy                       2.67 
Equinet               118.00  Buy                         -- 
Exane BNP Paribas     103.00  Neutral                   2.92 
Independent Research  109.00  Hold                      2.75 
Jefferies             125.00  Buy                       2.75 
Warburg Research      118.00  Buy                       2.67 
===

Year-earlier figures are as restated by the company.

(a) Including estimates from analysts who want to remain anonymous.