Norsk Hydro ASA (OTCMKTS:NHYDY) Sets New 52-Week High – Still a Buy?

Norsk Hydro ASA (OTCMKTS:NHYDY) hit a new 52-week high during trading on Wednesday . The company traded as high as $12.53 and last traded at $12.47, with a volume of 90108 shares trading hands. The stock had previously closed at $12.03.

Analysts Set New Price Targets

NHYDY has been the topic of a number of research reports. UBS Group cut shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley reissued an “equal weight” rating on shares of Norsk Hydro ASA in a research note on Thursday, April 16th. Zacks Research raised shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised shares of Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Finally, Pareto Securities raised shares of Norsk Hydro ASA from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

Norsk Hydro ASA Price Performance

The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 0.80 and a beta of 0.96. The company’s 50 day simple moving average is $10.94 and its 200-day simple moving average is $9.19. The company has a current ratio of 1.73, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.

Norsk Hydro ASA (OTCMKTS:NHYDY) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.42 billion. On average, equities research analysts predict that Norsk Hydro ASA will post 1.19 earnings per share for the current fiscal year.

Norsk Hydro ASA Company Profile

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.