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

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

A number of other brokerages have also issued reports on NHYDY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Norsk Hydro ASA in a research report on Tuesday, June 2nd. Morgan Stanley reissued an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. UBS Group downgraded Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Danske cut shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Finally, The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Norsk Hydro ASA has an average rating of “Hold”.

Norsk Hydro ASA Stock Performance

Shares of NHYDY opened at $9.03 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 1.73. Norsk Hydro ASA has a 1 year low of $5.69 and a 1 year high of $13.02. The firm has a fifty day moving average of $11.31 and a 200-day moving average of $9.88. The company has a market cap of $17.87 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 0.60 and a beta of 0.98.

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