Norcros (LON:NXR) Shares Pass Below 200-Day Moving Average – What’s Next?

Norcros plc (LON:NXR) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 244.63 ($3.05) and traded as low as GBX 239 ($2.98). Norcros shares last traded at GBX 239 ($2.98), with a volume of 642,453 shares changing hands.

Analyst Ratings Changes

NXR has been the topic of several research analyst reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 325 ($4.06) price objective on shares of Norcros in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 375 ($4.68) target price on shares of Norcros in a research report on Friday, November 22nd. Finally, Shore Capital reiterated a “buy” rating on shares of Norcros in a research report on Thursday, November 21st.

Norcros Stock Performance

The company has a market cap of £210.30 million, a PE ratio of 783.33 and a beta of 1.39. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.02. The firm’s 50 day moving average is GBX 251.89 and its 200-day moving average is GBX 244.59.

Norcros (LON:NXR) last issued its earnings results on Thursday, November 21st. The company reported GBX 14.20 ($0.18) earnings per share for the quarter. Norcros had a return on equity of 12.38% and a net margin of 6.84%. On average, research analysts anticipate that Norcros plc will post 31.3118812 earnings per share for the current fiscal year.

Norcros Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, January 14th. Shareholders of record on Thursday, November 28th were issued a GBX 3.50 ($0.04) dividend. This represents a yield of 1.41%. The ex-dividend date was Thursday, November 28th. Norcros’s payout ratio is currently 3,333.33%.

About Norcros

Norcros is a market leading group of brands providing design led, high quality bathroom and kitchen products with operations primarily in the UK and South Africa.

Based in the UK, Norcros operates under six brands:

· Triton – Market leader in the manufacture and marketing of showers in the UK
· Merlyn – UK and Ireland’s No.1 supplier of shower enclosures and trays to the residential, commercial, and hospitality sectors
· Grant Westfield – Leading manufacturer of high-end waterproof bathroom wall panels
· Vado – Leading manufacturer and supplier of taps, mixer showers, bathroom accessories, and valves
· Croydex – Market-leading, innovative designer, manufacturer, and distributor of high-quality bathroom furnishings and accessories
· Abode – Leading niche designer and distributor of high-quality kitchen taps, bathroom taps, and kitchen sinks

Based in South Africa, Norcros operates under four brands:

· Tile Africa – Chain of retail stores focused on ceramic and porcelain tiles and associated products such as sanitaryware, showers, and adhesives
· Johnson Tiles South Africa – Manufacturer of ceramic and porcelain tiles
· TAL – Leading manufacturer of ceramic and building adhesives in South Africa
· House of Plumbing – Market-leading supplier of specialist plumbing materials

Norcros is headquartered in Wilmslow, Cheshire and employs around 2,100 people.