Iberdrola (OTCMKTS:IBDRY) Shares Gap Up Following Analyst Upgrade

Iberdrola S.A. (OTCMKTS:IBDRY)’s share price gapped up prior to trading on Friday after Erste Group Bank upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $95.90, but opened at $99.52. Iberdrola shares last traded at $99.59, with a volume of 8,336 shares.

Several other equities analysts have also recently issued reports on IBDRY. Barclays upgraded shares of Iberdrola from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Iberdrola in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Iberdrola Stock Up 2.1%

The company has a market cap of $168.22 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.43 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $92.87 and a 200 day moving average of $90.81.

Iberdrola (OTCMKTS:IBDRY) last posted its earnings results on Wednesday, April 29th. The utilities provider reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.62 billion. Iberdrola had a net margin of 13.40% and a return on equity of 9.88%. On average, research analysts anticipate that Iberdrola S.A. will post 4.59 earnings per share for the current fiscal year.

Iberdrola Company Profile

Iberdrola, SA is a Spanish multinational electric utility headquartered in Bilbao that develops, produces and supplies electricity and related energy services. The company’s core activities span electricity generation across a diverse mix of assets, transmission and distribution network ownership and operation, and retail supply to residential, commercial and industrial customers. Iberdrola also offers energy management and digital solutions aimed at improving efficiency and integrating distributed and renewable resources.

Renewable energy is a central focus of Iberdrola’s business strategy, with significant investments in wind (onshore and offshore), hydroelectric and solar power and in the modernization of grids to accommodate increasing shares of intermittent generation.