Neste OYJ (OTCMKTS:NTOIY) Shares Down 4.2% – Here’s Why

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) dropped 4.2% during trading on Tuesday. The company traded as low as $17.1450 and last traded at $17.1450. 3,721 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 52,153 shares. The stock had previously closed at $17.90.

Wall Street Analyst Weigh In

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

Neste OYJ Stock Performance

The company’s 50-day simple moving average is $18.58 and its 200 day simple moving average is $17.13. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The stock has a market cap of $26.83 billion, a P/E ratio of 15.07, a PEG ratio of 0.16 and a beta of -0.82.

Neste OYJ (OTCMKTS:NTOIY) last announced its earnings results on Friday, July 24th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.19 billion. Neste OYJ had a return on equity of 19.90% and a net margin of 7.35%. As a group, sell-side analysts expect that Neste OYJ – Unsponsored ADR will post 1.90 EPS for the current fiscal year.

About Neste OYJ

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.