Iberdrola (OTCMKTS:IBDRY) Issues Earnings Results

Iberdrola (OTCMKTS:IBDRY) announced its earnings results on Wednesday. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02), Zacks reports. Iberdrola had a return on equity of 9.88% and a net margin of 13.40%.

Iberdrola Price Performance

Shares of IBDRY traded down $0.03 during trading hours on Wednesday, reaching $97.52. The company had a trading volume of 38,847 shares, compared to its average volume of 93,709. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72. Iberdrola has a 12-month low of $69.66 and a 12-month high of $100.64. The firm has a 50 day simple moving average of $94.51 and a 200-day simple moving average of $92.45. The company has a market capitalization of $164.76 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.46 and a beta of 0.64.

Wall Street Analysts Forecast Growth

IBDRY has been the subject of several analyst reports. Barclays upgraded Iberdrola from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 26th. Erste Group Bank upgraded shares of Iberdrola from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Finally, Citigroup raised shares of Iberdrola to a “hold” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About Iberdrola

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.