Iberdrola (OTCMKTS:IBDRY) Hits New 1-Year High – Here’s Why

Iberdrola S.A. (OTCMKTS:IBDRY)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $96.63 and last traded at $96.2620, with a volume of 1954 shares traded. The stock had previously closed at $95.23.

Wall Street Analysts Forecast Growth

IBDRY has been the subject of a number of recent analyst reports. Barclays raised Iberdrola from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Iberdrola in a research note on Friday, February 27th. Finally, Erste Group Bank lowered Iberdrola from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Iberdrola Price Performance

The firm has a fifty day simple moving average of $92.72 and a 200 day simple moving average of $90.29. The company has a market capitalization of $161.52 billion, a PE ratio of 23.55, a P/E/G ratio of 2.42 and a beta of 0.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.78 and a current ratio of 0.87.

Iberdrola (OTCMKTS:IBDRY) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.15 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.04). The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Iberdrola had a return on equity of 9.88% and a net margin of 13.40%. Equities analysts anticipate that Iberdrola S.A. will post 4.59 EPS for the current year.

Iberdrola Company Profile

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.