Akzo Nobel NV (OTCMKTS:AKZOY – Get Free Report)’s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $23.25, but opened at $21.67. Akzo Nobel shares last traded at $21.93, with a volume of 2,804 shares.
The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.51 billion. Akzo Nobel had a return on equity of 13.69% and a net margin of 0.53%.
Analyst Ratings Changes
AKZOY has been the subject of a number of recent research reports. Sanford C. Bernstein downgraded shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. UBS Group upgraded shares of Akzo Nobel to a “hold” rating in a research report on Monday, January 12th. Berenberg Bank upgraded Akzo Nobel to a “strong-buy” rating in a report on Monday, October 27th. Finally, Zacks Research raised Akzo Nobel from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.
Akzo Nobel Price Performance
The company has a market capitalization of $11.47 billion, a PE ratio of 223.20, a PEG ratio of 0.95 and a beta of 1.08. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average price is $22.58 and its 200-day moving average price is $22.72.
About Akzo Nobel
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.
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