Norcros (LON:NXR) Issues Quarterly Earnings Results

Norcros (LON:NXR) announced its quarterly earnings results on Thursday. The company reported GBX 16.30 earnings per share for the quarter, Digital Look Earnings reports. Norcros had a return on equity of 12.35% and a net margin of 6.83%.

Norcros Price Performance

Shares of Norcros stock traded up GBX 11.44 on Thursday, hitting GBX 303.44. The company’s stock had a trading volume of 38,738 shares, compared to its average volume of 159,513. The company has a market capitalization of £272.16 million, a price-to-earnings ratio of 77.81 and a beta of 1.39. Norcros has a 1 year low of GBX 184.50 and a 1 year high of GBX 320. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.00. The firm has a fifty day moving average price of GBX 280.29 and a 200-day moving average price of GBX 275.55.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Berenberg Bank upped their target price on Norcros from GBX 350 to GBX 410 and gave the stock a “buy” rating in a research note on Monday, October 13th. Shore Capital reissued a “buy” rating and issued a GBX 630 price target on shares of Norcros in a report on Thursday, October 16th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 340 price objective on shares of Norcros in a research report on Thursday, October 16th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Norcros presently has a consensus rating of “Buy” and an average price target of GBX 438.75.

Norcros Company Profile

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.