Iberdrola (OTCMKTS:IBDRY) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Iberdrola from a "strong-buy" to a "hold" rating, indicating a shift in analyst sentiment towards the stock.
• Despite the downgrade, Iberdrola's shares experienced a minor decline of 0.8% and maintain an average rating of "Hold" from multiple research firms.
• Iberdrola reported earnings of $1.10 per share, surpassing consensus estimates, but its revenue was below expectations, generating $11.21 billion compared to an expected $11.73 billion.

Iberdrola (OTCMKTS:IBDRY - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on IBDRY. Oddo Bhf raised shares of Iberdrola from a "neutral" rating to an "outperform" rating in a research report on Thursday, September 18th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Iberdrola in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Iberdrola currently has an average rating of "Hold".

Iberdrola Stock Down 0.8%

OTCMKTS:IBDRY opened at $73.49 on Tuesday. The company has a market cap of $122.75 billion, a PE ratio of 22.20, a P/E/G ratio of 2.55 and a beta of 0.79. Iberdrola has a twelve month low of $53.37 and a twelve month high of $78.31. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 0.78. The company's 50 day moving average is $73.72 and its two-hundred day moving average is $71.34.

Iberdrola (OTCMKTS:IBDRY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.04. The company had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.73 billion. Iberdrola had a net margin of 11.30% and a return on equity of 8.27%. Analysts anticipate that Iberdrola will post 3.57 EPS for the current year.

Iberdrola Company Profile

Iberdrola, SA engages in the generation, transmission, distribution, and supply of electricity in Spain, the United Kingdom, the United States, Mexico, Brazil, Germany, France, and Australia. It generates electricity from renewable sources, such as onshore and offshore wind, hydro, photovoltaic, combined cycle gas, and conventional nuclear, as well as through batteries.

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