Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 12-Month Low After Analyst Downgrade

Norsk Hydro ASA (OTCMKTS:NHYDYGet Rating) shares reached a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from 94.00 to 86.00. Morgan Stanley currently has an overweight rating on the stock. Norsk Hydro ASA traded as low as $5.95 and last traded at $6.01, with a volume of 247935 shares. The stock had previously closed at $6.09.

A number of other research firms also recently issued reports on NHYDY. UBS Group raised shares of Norsk Hydro ASA from a “neutral” rating to a “buy” rating in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Norsk Hydro ASA from 93.00 to 100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. Barclays lifted their price objective on shares of Norsk Hydro ASA from 93.00 to 120.00 and gave the company an “overweight” rating in a research note on Wednesday, March 30th. Pareto Securities downgraded shares of Norsk Hydro ASA from a “buy” rating to a “hold” rating in a research note on Wednesday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Norsk Hydro ASA from 84.00 to 82.00 and set a “neutral” rating on the stock in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Norsk Hydro ASA currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

The firm has a market cap of $12.31 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.27 and a beta of 1.42. The business’s 50 day moving average price is $7.95 and its 200-day moving average price is $8.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.35 and a current ratio of 1.91.

Norsk Hydro ASA (OTCMKTS:NHYDYGet Rating) last issued its earnings results on Monday, May 2nd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. Norsk Hydro ASA had a net margin of 9.94% and a return on equity of 21.52%. On average, analysts forecast that Norsk Hydro ASA will post 1.27 earnings per share for the current fiscal year.

The business also recently announced a dividend, which was paid on Friday, May 27th. Stockholders of record on Thursday, May 12th were paid a $0.4653 dividend. This represents a dividend yield of 5.82%. The ex-dividend date was Wednesday, May 11th. This is a positive change from Norsk Hydro ASA’s previous dividend of $0.29. Norsk Hydro ASA’s dividend payout ratio is 40.86%.

About Norsk Hydro ASA (OTCMKTS:NHYDY)

Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, remelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Bauxite & Alumina, Aluminium Metal, Metal Markets, Extrusions, and Energy segments. The Bauxite & Alumina segment engages in bauxite mining activities, production of alumina, and related commercial activities, primarily the sale of alumina.

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