Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 52-Week High – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.19 and last traded at $11.11, with a volume of 60474 shares traded. The stock had previously closed at $10.74.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NHYDY. Kepler Capital Markets lowered shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Morgan Stanley restated an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, February 24th. Zacks Research lowered shares of Norsk Hydro ASA from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Citigroup upgraded shares of Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada upgraded Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Norsk Hydro ASA Stock Up 1.8%

The firm’s fifty day moving average price is $9.42 and its two-hundred day moving average price is $8.09. The stock has a market cap of $21.64 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.14.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its quarterly earnings data on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. Norsk Hydro ASA had a net margin of 3.06% and a return on equity of 9.44%. The firm had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.82 billion. Sell-side analysts forecast 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.