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

Akzo Nobel NV (OTCMKTS:AKZOY)’s share price gapped down prior to trading 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.

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

Wall Street Analyst Weigh In

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

Akzo Nobel Stock Down 5.6%

The stock has a market cap of $11.27 billion, a P/E ratio of 219.40, a PEG ratio of 0.95 and a beta of 1.08. The stock’s fifty day simple moving average is $22.56 and its 200-day simple moving average is $22.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.25 and a quick ratio of 0.92.

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.