Norsk Hydro ASA (OTCMKTS:NHYDY) Reaches New 1-Year High - What's Next?

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)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.95 and last traded at $6.93, with a volume of 195518 shares. The stock had previously closed at $6.92.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating on shares of Norsk Hydro ASA in a research note on Wednesday, July 30th. Kepler Capital Markets downgraded shares of Norsk Hydro ASA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Norsk Hydro ASA in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Norsk Hydro ASA Price Performance

The business's 50 day moving average is $6.38 and its two-hundred day moving average is $5.89. The firm has a market cap of $13.23 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.32 and a beta of 1.48. The company has a quick ratio of 1.27, a current ratio of 1.92 and a debt-to-equity ratio of 0.28.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.09. Norsk Hydro ASA had a net margin of 4.37% and a return on equity of 11.24%. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $51.63 billion. As a group, analysts anticipate that Norsk Hydro ASA will post 0.72 earnings per share for the current 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.