Norsk Hydro ASA (OTCMKTS:NHYDY) Hits New 1-Year High – Here’s What Happened

Shares of Norsk Hydro ASA (OTCMKTS:NHYDY) hit a new 52-week high on Wednesday . The stock traded as high as $8.42 and last traded at $8.34, with a volume of 13886 shares. The stock had previously closed at $8.24.

Wall Street Analysts Forecast Growth

NHYDY has been the topic of several research analyst reports. Pareto Securities downgraded shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. BNP Paribas Exane raised Norsk Hydro ASA from a “neutral” rating to an “outperform” rating in a report on Friday, December 5th. Citigroup restated a “neutral” rating on shares of Norsk Hydro ASA in a report on Friday, September 26th. Danske upgraded Norsk Hydro ASA to a “hold” rating in a research report on Monday, October 27th. Finally, Barclays lowered shares of Norsk Hydro ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Norsk Hydro ASA presently has a consensus rating of “Moderate Buy”.

Norsk Hydro ASA Stock Up 1.6%

The firm’s fifty day moving average price is $7.49 and its two-hundred day moving average price is $6.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.25. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 0.24 and a beta of 1.15.

Norsk Hydro ASA (OTCMKTS:NHYDY) last announced its earnings results on Friday, October 24th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Norsk Hydro ASA had a return on equity of 10.20% and a net margin of 4.96%.The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $47.19 billion. Sell-side analysts forecast that Norsk Hydro ASA will post 0.72 earnings per share for the current fiscal year.

About Norsk Hydro ASA

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.