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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Kepler Capital Markets cut shares of Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Danske cut shares of Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research report on Friday, April 17th. Zacks Research raised shares of Norsk Hydro ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 29th. Citigroup reissued a “neutral” rating on shares of Norsk Hydro ASA in a research report on Tuesday. Finally, Morgan Stanley restated an “equal weight” rating on shares of Norsk Hydro ASA in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Norsk Hydro ASA presently has an average rating of “Hold”.

Norsk Hydro ASA Price Performance

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

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, beating 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 firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.42 billion. As a group, sell-side analysts anticipate 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.