Zacks Investment Research Lowers Norsk Hydro ASA (NHYDY) to Hold
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 Tuesday.
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. “
A number of other brokerages also recently issued reports on NHYDY. ValuEngine raised Norsk Hydro ASA from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BNP Paribas upgraded Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research report on Wednesday, September 6th. Finally, Credit Suisse Group upgraded Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 26th. 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 stock. The company presently has an average rating of “Buy” and an average price target of $8.25.
Norsk Hydro ASA (OTCMKTS NHYDY) traded down 1.90% during midday trading on Tuesday, reaching $7.39. The company had a trading volume of 14,773 shares. Norsk Hydro ASA has a 12-month low of $4.19 and a 12-month high of $7.58. The stock has a market capitalization of $15.11 billion, a PE ratio of 21.74 and a beta of 0.91. The company has a 50-day moving average of $6.84 and a 200-day moving average of $6.04.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $2.89 billion for the quarter. Norsk Hydro ASA had a return on equity of 6.57% and a net margin of 6.16%. On average, analysts predict that Norsk Hydro ASA will post $0.51 EPS for the current fiscal year.
Norsk Hydro ASA Company Profile
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