Norcros (LON:NXR) Issues Earnings Results

Norcros (LON:NXR) announced its quarterly earnings results on Wednesday. The company reported GBX 36.30 earnings per share (EPS) for the quarter, Digital Look Earnings reports. The firm had revenue of £393.40 million during the quarter. Norcros had a return on equity of 0.15% and a net margin of 0.08%.

Norcros Price Performance

NXR stock opened at GBX 291.71 on Wednesday. The company has a market capitalization of £262.21 million, a P/E ratio of 20.84 and a beta of 1.02. Norcros has a twelve month low of GBX 252 and a twelve month high of GBX 374. The business has a 50 day simple moving average of GBX 285.19 and a 200-day simple moving average of GBX 309.18. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 65.07.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXR. Shore Capital Group reaffirmed a “house stock” rating and issued a GBX 630 price target on shares of Norcros in a report on Tuesday. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 440 price target on shares of Norcros in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 470.

About Norcros

Norcros is a market leading group of brands providing design led, high quality bathroom and kitchen products with operations primarily in the UK and South Africa.

Based in the UK, Norcros operates under six brands:

· Triton – Market leader in the manufacture and marketing of showers in the UK
· Merlyn – UK and Ireland’s No.1 supplier of shower enclosures and trays to the residential, commercial, and hospitality sectors
· Grant Westfield – Leading manufacturer of high-end waterproof bathroom wall panels
· Vado – Leading manufacturer and supplier of taps, mixer showers, bathroom accessories, and valves
· Croydex – Market-leading, innovative designer, manufacturer, and distributor of high-quality bathroom furnishings and accessories
· Abode – Leading niche designer and distributor of high-quality kitchen taps, bathroom taps, and kitchen sinks

Based in South Africa, Norcros operates under four brands:

· Tile Africa – Chain of retail stores focused on ceramic and porcelain tiles and associated products such as sanitaryware, showers, and adhesives
· Johnson Tiles South Africa – Manufacturer of ceramic and porcelain tiles
· TAL – Leading manufacturer of ceramic and building adhesives in South Africa
· House of Plumbing – Market-leading supplier of specialist plumbing materials

Norcros is headquartered in Wilmslow, Cheshire and employs around 2,100 people.