Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 1-Year High Following Analyst Upgrade

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price hit a new 52-week high on Friday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $7.94 and last traded at $7.9050, with a volume of 15299 shares traded. The stock had previously closed at $7.77.

A number of other research firms have also recently issued reports on NHYDY. BNP Paribas Exane upgraded Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Friday, December 5th. Morgan Stanley reiterated an “overweight” rating on shares of Norsk Hydro ASA in a research report on Tuesday, December 16th. Pareto Securities cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. BNP Paribas raised shares of Norsk Hydro ASA to an “outperform” rating in a research note on Friday, December 5th. Finally, Barclays cut shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Norsk Hydro ASA Trading Up 2.4%

The stock has a market cap of $15.75 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 0.24 and a beta of 1.15. The firm’s 50 day simple moving average is $7.29 and its two-hundred day simple moving average is $6.71. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $47.19 billion. Norsk Hydro ASA had a net margin of 4.96% and a return on equity of 10.20%. As a group, equities research analysts predict that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.

Norsk Hydro ASA Company Profile

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.