Morgan Stanley Reiterates $48.68 Price Target for Iberdrola (OTCMKTS:IBDRY)

Last updated on Friday, July 23, 2021 | 2021 MarketBeat

Iberdrola (OTCMKTS:IBDRY) received a $48.68 price target from analysts at Morgan Stanley in a research note issued on Friday, The Fly reports. The brokerage currently has an "overweight" rating on the utilities provider's stock.

A number of other equities research analysts have also issued reports on the stock. Barclays restated an "overweight" rating on shares of Iberdrola in a report on Friday, June 4th. Deutsche Bank Aktiengesellschaft lowered shares of Iberdrola from a "buy" rating to a "hold" rating in a report on Tuesday, June 22nd. Royal Bank of Canada lowered shares of Iberdrola from a "sector perform" rating to an "underperform" rating in a research note on Monday, June 28th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Iberdrola in a research note on Thursday. Finally, Societe Generale upgraded shares of Iberdrola from a "hold" rating to a "buy" rating in a research note on Tuesday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Iberdrola presently has a consensus rating of "Hold" and a consensus target price of $48.68.

IBDRY stock traded up $0.47 on Friday, hitting $48.68. 256,555 shares of the company's stock traded hands, compared to its average volume of 133,585. Iberdrola has a 1-year low of $46.94 and a 1-year high of $61.52. The firm has a market cap of $77.28 billion, a PE ratio of 19.71 and a beta of 0.44. The stock's fifty day moving average is $51.69. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.86.

Iberdrola (OTCMKTS:IBDRY) last released its quarterly earnings results on Wednesday, May 12th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. Iberdrola had a net margin of 9.29% and a return on equity of 7.22%. The business had revenue of $12.16 billion for the quarter. On average, equities analysts expect that Iberdrola will post 2.55 EPS for the current year.

Iberdrola Company Profile

Iberdrola SA is a holding company, which engages in the generation, distribution, trading, and marketing of electricity. It operates through the following businesses: Networks, Liberalized, Renewables and Other Businesses. The Networks business engages in the transmission and distribution of energy businesses, as well as those of any other regulated nature, originating in Spain, the United Kingdom, the United States and Brazil.

Further Reading: Dollar Cost Averaging

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