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

Zacks Investment Research downgraded shares of Norsk Hydro ASA (OTCMKTS:NHYDY) from a hold rating to a sell rating in a report released on Saturday morning, Zacks.com reports.

According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “

A number of other research analysts have also commented on NHYDY. Citigroup lowered shares of Norsk Hydro ASA from a buy rating to a neutral rating in a research note on Monday, August 12th. Bank of America downgraded Norsk Hydro ASA from a buy rating to a neutral rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised Norsk Hydro ASA from a neutral rating to an overweight rating in a research report on Tuesday, May 21st. ValuEngine cut Norsk Hydro ASA from a sell rating to a strong sell rating in a research report on Tuesday, July 2nd. Finally, Deutsche Bank downgraded Norsk Hydro ASA from a buy rating to a hold rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $5.00.

Shares of NHYDY opened at $3.63 on Friday. The company’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.78. The firm has a market cap of $7.59 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.63 and a beta of 0.90. Norsk Hydro ASA has a 12-month low of $2.93 and a 12-month high of $6.21. The company has a current ratio of 1.77, a quick ratio of 1.07 and a debt-to-equity ratio of 0.22.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $4.55 billion during the quarter. Norsk Hydro ASA had a net margin of 0.07% and a return on equity of 2.14%. As a group, equities research analysts forecast that Norsk Hydro ASA will post 0.16 EPS for the current fiscal year.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA operates as an integrated aluminum company worldwide. It operates in six segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Extruded Solutions, and Energy. The Bauxite & Alumina segment engages in bauxite mining activities, production of alumina, and related commercial activities, as well as the sale of alumina.

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