Zacks Research Downgrades Norsk Hydro ASA (OTCMKTS:NHYDY) to Strong Sell

Key Points

• Zacks Research downgraded Norsk Hydro ASA from “hold” to “strong sell,” while the broader analyst consensus remains “hold.” Recent ratings include three sells, six holds, two buys and one strong buy.
• Norsk Hydro shares opened at $8.84, below both their 50-day moving average of $10.24 and 200-day average of $10.04; the stock has traded between $5.92 and $13.02 over the past year.
• The company slightly exceeded quarterly expectations, reporting $0.23 in EPS versus a $0.22 estimate and $5.88 billion in revenue versus $5.74 billion expected. Analysts project full-year earnings of $0.90 per share.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Norsk Hydro ASA in a research report on Thursday, July 2nd. Citigroup reiterated a "neutral" rating on shares of Norsk Hydro ASA in a research note on Tuesday, May 26th. Danske cut Norsk Hydro ASA from a "hold" rating to a "sell" rating in a report on Friday, April 17th. Morgan Stanley restated an "equal weight" rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. Finally, UBS Group lowered Norsk Hydro ASA from a "buy" rating to a "neutral" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold".

Norsk Hydro ASA Stock Performance

OTCMKTS NHYDY opened at $8.84 on Tuesday. The company's 50 day moving average is $10.24 and its 200-day moving average is $10.04. Norsk Hydro ASA has a 12-month low of $5.92 and a 12-month high of $13.02. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.27. The firm has a market cap of $17.49 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.02.

Norsk Hydro ASA (OTCMKTS:NHYDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.74 billion. Norsk Hydro ASA had a net margin of 4.90% and a return on equity of 12.01%. Sell-side analysts predict that Norsk Hydro ASA will post 0.9 earnings per share for the current year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world's largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.

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.