Norsk Hydro ASA (OTCMKTS:NHYDY) Reaches New 12-Month High – What’s Next?
by Michael Walen · The Markets DailyNorsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.6225 and last traded at $8.50, with a volume of 1049071 shares trading hands. The stock had previously closed at $8.30.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on NHYDY shares. Pareto Securities cut Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Norsk Hydro ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a research note on Friday, September 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, December 16th. Finally, BNP Paribas Exane upgraded shares of Norsk Hydro ASA to an “outperform” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.
Check Out Our Latest Research Report on Norsk Hydro ASA
Norsk Hydro ASA Price Performance
The company has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $6.96. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.25 and a current ratio of 1.91.
Norsk Hydro ASA (OTCMKTS:NHYDY – Get Free Report) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Norsk Hydro ASA had a return on equity of 10.20% and a net margin of 4.96%.The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $47.19 billion. As a group, equities research analysts expect that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.
About Norsk Hydro ASA
Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.
In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.