Akzo Nobel (OTCMKTS:AKZOY) Shares Pass Below 50-Day Moving Average - Here's What Happened

Key Points

• Akzo Nobel's shares fell below their fifty-day moving average of $22.83, trading as low as $20.91 before closing at $20.96 with a volume of 81,414 shares.
• The company reported quarterly earnings of $0.43 per share, falling short of analysts' expectations of $0.47, despite revenues of $3.07 billion surpassing projections.
• Analysts predict that Akzo Nobel NV will achieve 1.52 earnings per share for the current fiscal year, as the company maintains a stable market capitalization of $10.75 billion.

Shares of Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $22.83 and traded as low as $20.91. Akzo Nobel shares last traded at $20.96, with a volume of 81,414 shares changing hands.

Akzo Nobel Price Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market capitalization of $10.75 billion, a PE ratio of 23.55, a P/E/G ratio of 0.82 and a beta of 1.07. The company's 50-day simple moving average is $22.83 and its 200-day simple moving average is $21.45.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.04). The company had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $2.67 billion. Akzo Nobel had a net margin of 4.08% and a return on equity of 13.48%. As a group, sell-side analysts anticipate that Akzo Nobel NV will post 1.52 earnings per share for the current year.

About Akzo Nobel

Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. The company operates through two segments: Decorative Paints and Performance Coatings. It offers decorative paints, including paints, lacquers, and varnishes; and a range of mixing machines and color concepts for the building and renovation industry, as well as specialty coatings.

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