Norsk Hydro ASA (OTCMKTS:NHYDY) Reaches New 12-Month High - Time to Buy?

Key Points

• Norsk Hydro ASA shares reached a new 12-month high of $6.95 during trading, signaling strong market performance with a healthy volume of 195,518 shares exchanged.
• Analyst sentiment is mixed, with Citigroup maintaining a "neutral" rating, while Morgan Stanley rates it as "overweight," leading to a current consensus rating of "Moderate Buy."
• The company reported earnings of $0.16 EPS for the last quarter, significantly surpassing estimates, contributing to its positive outlook and projected EPS of 0.72 for the current fiscal year.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $6.95 and last traded at $6.93, with a volume of 195518 shares traded. The stock had previously closed at $6.92.

Analysts Set New Price Targets

NHYDY has been the topic of several recent analyst reports. Citigroup reiterated a "neutral" rating on shares of Norsk Hydro ASA in a research note on Wednesday, July 30th. Kepler Capital Markets cut Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley restated an "overweight" rating on shares of Norsk Hydro ASA in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Norsk Hydro ASA Price Performance

The company has a market capitalization of $13.71 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The company has a fifty day moving average price of $6.34 and a 200 day moving average price of $5.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.92 and a quick ratio of 1.27.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last posted its earnings results on Monday, July 21st. The industrial products company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $51.63 billion. Norsk Hydro ASA had a return on equity of 11.24% and a net margin of 4.37%. On average, sell-side analysts forecast that Norsk Hydro ASA will post 0.72 EPS for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments.

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