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

Iberdrola S.A. (OTCMKTS:IBDRY) shares 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.

A number of other analysts have also recently commented on IBDRY. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Iberdrola in a report on Friday, February 27th. Barclays raised shares of Iberdrola from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Iberdrola Trading Up 2.1%

The stock has a 50 day moving average of $92.87 and a 200-day moving average of $90.81. The company has a market capitalization of $168.22 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.43 and a beta of 0.64. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72.

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