Akzo Nobel (OTCMKTS:AKZOY – Get Free Report) announced its earnings results on Wednesday. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04), Zacks reports. Akzo Nobel had a return on equity of 13.42% and a net margin of 6.44%.The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.96 billion.
Akzo Nobel Stock Performance
AKZOY opened at $22.10 on Thursday. The firm has a 50 day moving average of $22.09 and a two-hundred day moving average of $21.62. The firm has a market capitalization of $11.35 billion, a PE ratio of 15.79, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a current ratio of 1.72, a quick ratio of 1.35 and a debt-to-equity ratio of 0.94. Akzo Nobel has a 12-month low of $18.04 and a 12-month high of $25.99.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on AKZOY shares. Citigroup started coverage on Akzo Nobel in a report on Friday, June 5th. They issued a “buy” rating for the company. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research note on Monday, June 29th. Finally, The Goldman Sachs Group cut shares of Akzo Nobel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.
About Akzo Nobel
Akzo Nobel N.V. is a Dutch multinational company specializing in paints, coatings and specialty chemicals. Established through the 1994 merger of Akzo and Nobel Industries, the company traces its roots back to chemical and saltpeter production in the Netherlands. Today, Akzo Nobel is recognized as one of the world’s leading coatings manufacturers, serving both decorative and industrial markets.
The company’s business is organized into three principal segments: Decorative Paints, Performance Coatings and Specialty Chemicals.
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