Akzo Nobel (OTCMKTS:AKZOY) Shares Down 15% – Here’s Why

Akzo Nobel NV (OTCMKTS:AKZOY) fell 15% on Thursday . The company traded as low as $21.73 and last traded at $21.7970. 7,562 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 204,943 shares. The stock had previously closed at $25.6550.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AKZOY. Deutsche Bank Aktiengesellschaft lowered shares of Akzo Nobel from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Barclays downgraded shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. The Goldman Sachs Group downgraded shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Wall Street Zen downgraded shares of Akzo Nobel from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Zacks Research downgraded shares of Akzo Nobel from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Akzo Nobel currently has an average rating of “Hold”.

Akzo Nobel Price Performance

The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 2.25 and a beta of 1.16. The company’s 50 day moving average is $20.24 and its 200-day moving average is $21.52. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76.

Akzo Nobel (OTCMKTS:AKZOY) last issued its earnings results on Wednesday, April 22nd. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. Akzo Nobel had a net margin of 6.44% and a return on equity of 13.96%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. Equities research analysts anticipate that Akzo Nobel NV will post 1.46 earnings per share for the current year.

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Dutch multinational company specializing in paints, coatings and specialty chemicals. Established through the 1994 merger of Akzo and Nobel Industries, the company traces its roots back to chemical and saltpeter production in the Netherlands. Today, Akzo Nobel is recognized as one of the world’s leading coatings manufacturers, serving both decorative and industrial markets.

The company’s business is organized into three principal segments: Decorative Paints, Performance Coatings and Specialty Chemicals.