Shore Capital Group Reiterates House Stock Rating for Norcros (LON:NXR)

Key Points

• Shore Capital Group reiterated its "house stock" rating on Norcros, while Berenberg also reaffirmed a buy rating and set a GBX 440 price target.
• Norcros shares were down 0.6% to GBX 315, leaving the stock between its 52-week low of GBX 252 and high of GBX 374.
• The company recently reported quarterly earnings of GBX 36.30 per share on £393.4 million in revenue, and analysts expect it to post 31.31 EPS for the current fiscal year.

Norcros (LON:NXR - Get Free Report)'s stock had its "house stock" rating reiterated by equities researchers at Shore Capital Group in a report issued on Wednesday,Digital Look reports.

Separately, Berenberg Bank reissued a "buy" rating and issued a GBX 440 price target on shares of Norcros in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 470.

Norcros Trading Down 0.6%

Shares of LON NXR opened at GBX 315 on Wednesday. Norcros has a 1 year low of GBX 252 and a 1 year high of GBX 374. The company has a debt-to-equity ratio of 65.07, a current ratio of 1.92 and a quick ratio of 0.91. The firm has a 50-day moving average of GBX 293.30 and a 200 day moving average of GBX 309.04. The stock has a market cap of £281.07 million, a P/E ratio of 1,050.00 and a beta of 1.04.

Norcros (LON:NXR - Get Free Report) last announced its quarterly earnings data on Wednesday, June 17th. The company reported GBX 36.30 earnings per share for the quarter. Norcros had a net margin of 0.08% and a return on equity of 0.15%. The business had revenue of £393.40 million for the quarter. As a group, sell-side analysts expect that Norcros will post 31.3118812 EPS for the current fiscal year.

Norcros Company Profile

Norcros is a market leading group of brands providing design led, high quality bathroom and kitchen products with operations primarily in the UK and South Africa. Based in the UK, Norcros operates under six brands: · Triton – Market leader in the manufacture and marketing of showers in the UK · Merlyn – UK and Ireland's No.1 supplier of shower enclosures and trays to the residential, commercial, and hospitality sectors · Grant Westfield – Leading manufacturer of high-end waterproof bathroom wall panels · Vado – Leading manufacturer and supplier of taps, mixer showers, bathroom accessories, and valves · Croydex – Market-leading, innovative designer, manufacturer, and distributor of high-quality bathroom furnishings and accessories · Abode – Leading niche designer and distributor of high-quality kitchen taps, bathroom taps, and kitchen sinks Based in South Africa, Norcros operates under four brands: · Tile Africa – Chain of retail stores focused on ceramic and porcelain tiles and associated products such as sanitaryware, showers, and adhesives · Johnson Tiles South Africa – Manufacturer of ceramic and porcelain tiles · TAL – Leading manufacturer of ceramic and building adhesives in South Africa · House of Plumbing – Market-leading supplier of specialist plumbing materials Norcros is headquartered in Wilmslow, Cheshire and employs around 2,100 people.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.