Neste OYJ (OTCMKTS:NTOIY) Announces Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Neste OYJ (OTCMKTS:NTOIY) released its quarterly earnings results on Thursday. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.28, Zacks reports. The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $6.36 billion. Neste OYJ had a net margin of 10.79% and a return on equity of 31.41%.

Neste OYJ Trading Down 0.8%

NTOIY traded down $0.13 during trading on Friday, reaching $15.63. The company had a trading volume of 46,571 shares, compared to its average volume of 41,677. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 0.50. The business has a 50 day simple moving average of $18.39 and a 200-day simple moving average of $16.16. The stock has a market cap of $24.02 billion, a P/E ratio of 8.47, a PEG ratio of 0.15 and a beta of -0.82. Neste OYJ has a 52 week low of $9.14 and a 52 week high of $20.29.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTOIY. The Goldman Sachs Group upgraded shares of Neste OYJ from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Zacks Research upgraded Neste OYJ from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Five investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Neste OYJ presently has an average rating of “Strong Buy”.

Neste OYJ Company Profile

Neste Oyj is a Finland-based company that produces renewable fuels and refined petroleum products. Its renewable products include renewable diesel and sustainable aviation fuel, which are made primarily from waste and residue oils and fats. The company also develops renewable raw-material solutions for the polymers and chemicals industries.

Neste operates traditional oil-refining and marketing businesses alongside its renewable fuels operations. Its products are supplied to transportation, aviation, marine, industrial and chemical customers, as well as through fuel stations and other retail channels in selected markets.

Founded in 1948, Neste was established to secure Finland’s petroleum supply and was formerly known as Neste Oil.