Norsk Hydro ASA (NHYDY) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Norsk Hydro ASA (OTCMKTS:NHYDY) from a hold rating to a buy rating in a research note released on Saturday. They currently have $8.25 price objective on the industrial products company’s stock.

According to Zacks, “Norsk Hydro ASA is an aluminium company with production, sales and trading activities. The company’s operating segment consists of Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Energy and Other and eliminations. Norsk Hydro ASA is headquartered in Oslo, Norway. “

NHYDY has been the subject of a number of other research reports. ValuEngine upgraded shares of Norsk Hydro ASA from a hold rating to a buy rating in a research report on Friday, September 1st. BNP Paribas upgraded shares of Norsk Hydro ASA from a neutral rating to an outperform rating in a research report on Wednesday. Finally, Credit Suisse Group upgraded shares of Norsk Hydro ASA from a neutral rating to an outperform rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $8.25.

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) traded down 2.16% on Friday, hitting $7.26. The stock had a trading volume of 58,861 shares. Norsk Hydro ASA has a one year low of $3.87 and a one year high of $7.42. The company has a market capitalization of $14.85 billion, a P/E ratio of 21.93 and a beta of 0.91. The firm has a 50 day moving average price of $6.67 and a 200 day moving average price of $5.95.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $2.89 billion for the quarter. Norsk Hydro ASA had a return on equity of 6.57% and a net margin of 6.16%. On average, equities research analysts predict that Norsk Hydro ASA will post $0.51 earnings per share for the current fiscal year.

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Norsk Hydro ASA Company Profile

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