Norsk Hydro ASA (OTCMKTS:NHYDY) Coverage Initiated at Royal Bank of Canada

Analysts at Royal Bank of Canada initiated coverage on shares of Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. BNP Paribas cut shares of Norsk Hydro ASA from an “outperform” rating to a “neutral” rating in a report on Monday, February 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Norsk Hydro ASA from 80.00 to 94.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Nordea Equity Research raised shares of Norsk Hydro ASA from a “sell” rating to a “hold” rating in a research report on Wednesday, February 15th. Credit Suisse Group initiated coverage on shares of Norsk Hydro ASA in a research report on Thursday, March 2nd. They set an “outperform” rating for the company. Finally, Morgan Stanley upped their price objective on shares of Norsk Hydro ASA from 85.00 to 93.00 in a report on Friday, December 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $82.25.

Norsk Hydro ASA Stock Performance

OTCMKTS NHYDY opened at $7.18 on Thursday. Norsk Hydro ASA has a 1 year low of $5.13 and a 1 year high of $10.72. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 0.51 and a beta of 1.64. The firm’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $7.03.

Norsk Hydro ASA (OTCMKTS:NHYDY – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The industrial products company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Norsk Hydro ASA had a return on equity of 21.51% and a net margin of 11.61%. The business had revenue of $4.44 billion for the quarter. As a group, research analysts expect that Norsk Hydro ASA will post 0.68 earnings per share for the current fiscal year.

About Norsk Hydro ASA

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Norsk Hydro ASA engages in producing and supplying alumina and primary aluminum. It operates through the following segments: Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Extrusions, Hydro Energy, Hydro Metal Markets, and Other. The Hydro Bauxite & Alumina segment includes bauxite mining activities, production of alumina and related commercial activities, primarily the sale of alumina.