Norsk Hydro ASA (NHYDY) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Norsk Hydro ASA (OTCMKTS:NHYDY) from a buy rating to a hold rating in a research note published on Friday morning.
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. “
Several other equities analysts also recently issued reports on the company. BNP Paribas raised Norsk Hydro ASA from a neutral rating to an outperform rating in a research report on Wednesday, September 6th. ValuEngine raised Norsk Hydro ASA from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Credit Suisse Group raised 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 issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $8.25.
Shares of Norsk Hydro ASA (NHYDY) opened at 7.26 on Friday. The company has a market cap of $14.85 billion, a P/E ratio of 21.93 and a beta of 0.91. Norsk Hydro ASA has a 12-month low of $3.87 and a 12-month high of $7.42. The stock’s 50 day moving average price is $6.67 and its 200 day moving average price is $5.95.
Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $2.89 billion during the quarter. Norsk Hydro ASA had a return on equity of 6.57% and a net margin of 6.16%. On average, analysts forecast 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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