Norsk Hydro ASA (NHYDY) Cut to “Hold” at Zacks Investment Research
Norsk Hydro ASA (OTCMKTS:NHYDY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “
Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 26th. Finally, BNP Paribas raised shares of Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $8.25.
Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) traded down 2.16% during mid-day trading on Friday, reaching $7.26. The company’s stock had a trading volume of 58,861 shares. The firm’s 50 day moving average price is $6.67 and its 200-day moving average price is $5.95. Norsk Hydro ASA has a 1-year low of $3.87 and a 1-year high of $7.42. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 21.93 and a beta of 0.91.
Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $2.89 billion for the quarter. Norsk Hydro ASA had a net margin of 6.16% and a return on equity of 6.57%. On average, analysts predict that Norsk Hydro ASA will post $0.51 EPS for the current year.
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About Norsk Hydro ASA
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