Norcros (LON:NXR) Releases Earnings Results

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

Norcros Stock Up 0.2%

NXR opened at GBX 303.50 on Friday. Norcros has a fifty-two week low of GBX 252 and a fifty-two week high of GBX 374. The company has a market capitalization of £272.81 million, a P/E ratio of 21.68 and a beta of 1.02. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. The firm’s fifty day moving average price is GBX 285.79 and its two-hundred day moving average price is GBX 309.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 440 price target on shares of Norcros in a report on Thursday, June 11th. Shore Capital Group restated a “house stock” rating and issued a GBX 630 price objective on shares of Norcros in a report on Tuesday. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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.