Iberdrola (OTCMKTS:IBDRY) Sees Strong Trading Volume – Here’s What Happened

Iberdrola S.A. (OTCMKTS:IBDRY) shares saw an uptick in trading volume on Wednesday . 174,547 shares traded hands during mid-day trading, an increase of 131% from the previous session’s volume of 75,563 shares.The stock last traded at $85.36 and had previously closed at $86.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IBDRY shares. Zacks Research downgraded Iberdrola from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. DZ Bank lowered shares of Iberdrola from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada restated a “sector perform” rating on shares of Iberdrola in a research note on Monday, September 29th. Oddo Bhf upgraded Iberdrola from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 18th. Finally, Jefferies Financial Group cut Iberdrola from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Iberdrola Trading Up 1.8%

The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $84.79 and its two-hundred day moving average price is $78.65. The firm has a market cap of $144.03 billion, a PE ratio of 23.89, a P/E/G ratio of 2.16 and a beta of 0.72.

Iberdrola (OTCMKTS:IBDRY) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Iberdrola had a return on equity of 8.99% and a net margin of 12.10%.The company had revenue of $12.94 billion for the quarter, compared to analyst estimates of $13.56 billion. As a group, sell-side analysts forecast that Iberdrola S.A. will post 3.57 earnings per share for the current fiscal year.

About Iberdrola

Iberdrola, SA is a Spanish multinational electric utility headquartered in Bilbao that develops, produces and supplies electricity and related energy services. The company’s core activities span electricity generation across a diverse mix of assets, transmission and distribution network ownership and operation, and retail supply to residential, commercial and industrial customers. Iberdrola also offers energy management and digital solutions aimed at improving efficiency and integrating distributed and renewable resources.

Renewable energy is a central focus of Iberdrola’s business strategy, with significant investments in wind (onshore and offshore), hydroelectric and solar power and in the modernization of grids to accommodate increasing shares of intermittent generation.