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

Norsk Hydro ASA (OTCMKTS:NHYDY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.17 and last traded at $10.15, with a volume of 38193 shares trading hands. The stock had previously closed at $9.70.

Wall Street Analyst Weigh In

Several research analysts have commented on NHYDY shares. The Goldman Sachs Group downgraded shares of Norsk Hydro ASA from a “buy” rating to a “sell” rating in a report on Monday, February 16th. Wall Street Zen cut Norsk Hydro ASA from a “buy” rating to a “hold” rating in a report on Friday, February 27th. Royal Bank Of Canada downgraded Norsk Hydro ASA from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 16th. Kepler Capital Markets lowered Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Finally, Morgan Stanley restated an “overweight” rating on shares of Norsk Hydro ASA in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Norsk Hydro ASA currently has an average rating of “Hold”.

Norsk Hydro ASA Stock Down 1.7%

The firm has a market cap of $19.37 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $7.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.25.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its earnings results on Friday, February 13th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.82 billion. Norsk Hydro ASA had a net margin of 3.06% and a return on equity of 9.44%. Research analysts anticipate that Norsk Hydro ASA will post 0.72 EPS 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.