Iberdrola (OTCMKTS:IBDRY) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Iberdrola (OTCMKTS:IBDRY) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “IBERDROLA, S.A. operates as an energy group, which provides utilities and wind power. It is primarily involved in electricity distribution, gas distribution and telecommunications. In electricity distribution segment, it plans, develops and operates the distribution network, provides the service within regulatory quality of service, measures usage at the supply points, bills access and full rates until the last resort rate is established and runs demand management programmes. The main work of gas distribution segment involves carrying gas from the network to the end user’s installation. The Company also operates telecommunications infrastructure which consists of different networks such as backbone (fibre optic and PLC), transmission, data-switching, voice-switching and radio. IBERDROLA, S.A is based in Bilbao, Spain. “

Other research analysts have also issued research reports about the stock. UBS Group restated a buy rating on shares of Iberdrola in a report on Thursday, September 9th. Credit Suisse Group reissued a neutral rating on shares of Iberdrola in a research report on Thursday, July 15th. Morgan Stanley set a $48.68 price target on shares of Iberdrola and gave the stock an overweight rating in a research report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Iberdrola from a buy rating to a hold rating in a research report on Tuesday, June 22nd. Finally, JPMorgan Chase & Co. reissued a neutral rating on shares of Iberdrola in a research report on Thursday, July 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $48.68.

Shares of IBDRY traded down $1.06 during mid-day trading on Tuesday, hitting $47.51. The company had a trading volume of 93,683 shares, compared to its average volume of 85,420. The business’s 50-day simple moving average is $48.85 and its 200-day simple moving average is $51.55. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Iberdrola has a 1-year low of $46.94 and a 1-year high of $61.52. The stock has a market cap of $75.61 billion, a PE ratio of 19.23 and a beta of 0.44.

Iberdrola (OTCMKTS:IBDRY) last released its earnings results on Wednesday, July 21st. The utilities provider reported $0.41 earnings per share (EPS) for the quarter. Iberdrola had a net margin of 9.29% and a return on equity of 7.22%. The business had revenue of $10.44 billion for the quarter. On average, sell-side analysts expect that Iberdrola will post 2.55 earnings per share for the current year.

The firm also recently disclosed a dividend, which was paid on Monday, August 9th. Shareholders of record on Friday, July 9th were issued a $0.8297 dividend. This represents a yield of 1.68%. The ex-dividend date of this dividend was Thursday, July 8th. Iberdrola’s dividend payout ratio is presently 49.40%.

About Iberdrola

Iberdrola SA is a holding company, which engages in the generation, distribution, trading, and marketing of electricity. It operates through the following businesses: Networks, Liberalized, Renewables and Other Businesses. The Networks business engages in the transmission and distribution of energy businesses, as well as those of any other regulated nature, originating in Spain, the United Kingdom, the United States and Brazil.

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