Akzo Nobel (OTCMKTS:AKZOY) Shares Gap Down After Earnings Miss

Akzo Nobel NV (OTCMKTS:AKZOY) shares gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $23.25, but opened at $21.67. Akzo Nobel shares last traded at $21.93, with a volume of 2,804 shares.

The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.51 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 14.05%.

Wall Street Analyst Weigh In

AKZOY has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Sanford C. Bernstein cut shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Berenberg Bank upgraded shares of Akzo Nobel to a “strong-buy” rating in a research note on Monday, October 27th. Finally, UBS Group raised Akzo Nobel to a “hold” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Akzo Nobel Trading Up 5.0%

The business has a fifty day moving average price of $22.62 and a 200-day moving average price of $22.73. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.88. The company has a market cap of $12.04 billion, a P/E ratio of 16.62, a PEG ratio of 0.91 and a beta of 1.08.

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Dutch multinational company specializing in paints, coatings and specialty chemicals. Established through the 1994 merger of Akzo and Nobel Industries, the company traces its roots back to chemical and saltpeter production in the Netherlands. Today, Akzo Nobel is recognized as one of the world’s leading coatings manufacturers, serving both decorative and industrial markets.

The company’s business is organized into three principal segments: Decorative Paints, Performance Coatings and Specialty Chemicals.