Akzo Nobel (OTCMKTS:AKZOY) Shares Gap Down After Earnings Miss

Akzo Nobel NV (OTCMKTS:AKZOY) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $23.25, but opened at $21.67. Akzo Nobel shares last traded at $21.93, with a volume of 2,804 shares trading hands.

The basic materials company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.51 billion. Akzo Nobel had a return on equity of 13.69% and a net margin of 0.53%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group raised shares of Akzo Nobel to a “hold” rating in a research note on Monday, January 12th. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Berenberg Bank raised shares of Akzo Nobel to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Sanford C. Bernstein lowered Akzo Nobel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Akzo Nobel Trading Down 5.6%

The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 219.40, a P/E/G ratio of 0.95 and a beta of 1.08. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $22.56 and its two-hundred day moving average price is $22.73.

Akzo Nobel Company Profile

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.