Iberdrola (OTCMKTS:IBDRY) Reaches New 52-Week High on Analyst Upgrade

Iberdrola S.A. (OTCMKTS:IBDRY) hit a new 52-week high on Thursday after Erste Group Bank upgraded the stock from a hold rating to a buy rating. The stock traded as high as $98.05 and last traded at $97.9425, with a volume of 1870 shares changing hands. The stock had previously closed at $96.54.

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

Iberdrola Trading Up 2.2%

The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $92.80 and its 200 day moving average price is $90.71. The company has a market capitalization of $165.55 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.45 and a beta of 0.64.

Iberdrola (OTCMKTS:IBDRY) last posted its earnings results on Wednesday, April 29th. The utilities provider reported $1.15 earnings per share 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 business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.62 billion. As a group, equities research analysts predict that Iberdrola S.A. will post 4.59 earnings per share for the current year.

About Iberdrola

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.