Iberdrola (OTCMKTS:IBDRY) Shares Down 2.6% - Here's Why

Key Points

• Iberdrola S.A. shares declined by 2.6% to trade at $70.55, with a substantial increase in trading volume, showing 886,315 shares exchanged compared to an average of 82,281 shares.
• Analysts upgraded Iberdrola to a "buy" rating, even as the company reported a quarterly earnings per share (EPS) of $1.10, exceeding expectations of $1.06.
• The company recently cut its dividend, announcing a payment of $0.0175 per share, resulting in a yield of 1.03% and a high payout ratio of 89.43%.

Iberdrola S.A. (OTCMKTS:IBDRY - Get Free Report)'s stock price fell 2.6% during trading on Monday . The company traded as low as $70.54 and last traded at $70.55. 886,315 shares changed hands during trading, an increase of 977% from the average session volume of 82,281 shares. The stock had previously closed at $72.43.

Analyst Ratings Changes

Separately, Dbs Bank upgraded shares of Iberdrola to a "buy" rating in a research note on Friday, April 25th.

Iberdrola Stock Performance

The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71. The stock's fifty day simple moving average is $74.06 and its 200-day simple moving average is $66.38. The company has a market capitalization of $113.60 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.79.

Iberdrola (OTCMKTS:IBDRY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.04. Iberdrola had a net margin of 11.30% and a return on equity of 8.18%. The company had revenue of $11.21 billion during the quarter, compared to analysts' expectations of $11.73 billion. Analysts predict that Iberdrola S.A. will post 3.57 EPS for the current year.

Iberdrola Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, May 26th were paid a dividend of $0.0175 per share. The ex-dividend date was Friday, May 23rd. This represents a yield of 1.03%. Iberdrola's payout ratio is 89.43%.

About Iberdrola

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.