Norsk Hydro ASA (OTCMKTS:NHYDY) Cut to Hold at Zacks Research

Norsk Hydro ASA (OTCMKTS:NHYDY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on NHYDY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Norsk Hydro ASA in a research note on Tuesday, June 2nd. Pareto Securities cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research report on Thursday, June 11th. UBS Group downgraded Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

NHYDY stock opened at $9.03 on Monday. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 0.60 and a beta of 0.98. The firm has a 50 day moving average of $11.31 and a two-hundred day moving average of $9.88. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. Norsk Hydro ASA has a 12 month low of $5.69 and a 12 month high of $13.02.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. As a group, equities analysts anticipate that Norsk Hydro ASA will post 1.19 EPS 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.