Citigroup Downgrades Akzo Nobel (OTCMKTS:AKZOY) to Sell

Citigroup cut shares of Akzo Nobel (OTCMKTS:AKZOY) from a neutral rating to a sell rating in a report issued on Monday, The Fly reports.

A number of other research firms also recently weighed in on AKZOY. ABN Amro downgraded shares of Akzo Nobel from a buy rating to a hold rating in a research report on Monday, April 8th. Goldman Sachs Group set a €148.00 ($172.09) price objective on shares of Airbus and gave the company a buy rating in a research report on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of Hanmi Financial from a sell rating to a hold rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $32.00.

Shares of OTCMKTS AKZOY traded up $0.01 during midday trading on Monday, reaching $30.99. The company’s stock had a trading volume of 15,470 shares, compared to its average volume of 60,957. The company has a current ratio of 2.07, a quick ratio of 1.75 and a debt-to-equity ratio of 0.23. Akzo Nobel has a fifty-two week low of $25.61 and a fifty-two week high of $33.00. The stock’s 50 day moving average price is $30.10. The firm has a market cap of $21.20 billion, a P/E ratio of 37.79, a P/E/G ratio of 8.62 and a beta of 0.72.

Akzo Nobel (OTCMKTS:AKZOY) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Akzo Nobel had a net margin of 71.19% and a return on equity of 5.10%. The business had revenue of $2.48 billion during the quarter. Sell-side analysts anticipate that Akzo Nobel will post 1.04 earnings per share for the current year.

About Akzo Nobel

Akzo Nobel N.V. operates as a paints and coatings company worldwide. The company offers decorative paints, including paints, lacquers, and varnishes; a range of mixing machines and color concepts for the building and renovation industry; and specialty coatings for metal, wood, and other building materials primarily under the Dulux, Coral, Levis, and Flexa brands.

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