Citigroup Initiates Coverage on Akzo Nobel (OTCMKTS:AKZOY)

Stock analysts at Citigroup began coverage on shares of Akzo Nobel (OTCMKTS:AKZOY) in a report released on Friday. The firm set a “buy” rating on the basic materials company’s stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen cut Akzo Nobel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Barclays lowered shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. Zacks Research downgraded shares of Akzo Nobel from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered shares of Akzo Nobel from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group cut shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

Akzo Nobel Stock Performance

AKZOY stock traded up $0.74 during midday trading on Friday, hitting $21.99. The stock had a trading volume of 4,688 shares, compared to its average volume of 205,277. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.87 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $20.30 and a 200 day simple moving average of $21.52. Akzo Nobel has a 52 week low of $18.04 and a 52 week high of $25.99.

Akzo Nobel (OTCMKTS:AKZOY) last issued its earnings results on Wednesday, April 22nd. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Akzo Nobel had a net margin of 6.44% and a return on equity of 13.96%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities research analysts anticipate that Akzo Nobel will post 1.46 earnings per share for the current year.

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.