Zacks Investment Research Downgrades 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 note issued to investors 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. “
Several other research analysts also recently weighed in on the company. ValuEngine upgraded Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Credit Suisse Group upgraded Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 26th. Finally, BNP Paribas upgraded Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a research note on Wednesday, September 6th. One research analyst has rated the stock with a hold rating, five have given 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 price target of $8.25.
Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) opened at 7.48 on Tuesday. The stock’s 50 day moving average price is $6.84 and its 200-day moving average price is $6.04. The firm has a market cap of $15.30 billion, a P/E ratio of 22.06 and a beta of 0.91. Norsk Hydro ASA has a 12-month low of $4.10 and a 12-month high of $7.47.
Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 predict that Norsk Hydro ASA will post $0.51 earnings per share for the current fiscal year.
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About Norsk Hydro ASA
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