Akzo Nobel (OTCMKTS:AKZOY) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Akzo Nobel NV (OTCMKTS:AKZOY) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $23.01 and traded as low as $21.31. Akzo Nobel shares last traded at $21.43, with a volume of 121,978 shares changing hands.

Wall Street Analyst Weigh In

AKZOY has been the subject of a number of recent research reports. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Citigroup started coverage on shares of Akzo Nobel in a report on Friday, June 5th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Akzo Nobel in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Akzo Nobel has a consensus rating of “Hold”.

Akzo Nobel Stock Performance

The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The firm has a fifty day moving average of $23.01 and a 200 day moving average of $21.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.88 and a quick ratio of 1.49.

Akzo Nobel (OTCMKTS:AKZOY) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.96 billion. On average, sell-side analysts anticipate that Akzo Nobel NV will post 1.46 earnings per share for the current fiscal year.

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Netherlands-based multinational company that develops, manufactures and markets paints and coatings. Its products are used in residential, commercial and industrial applications, including architectural paints, protective coatings, marine coatings, powder coatings, automotive refinishing products and specialty coatings.

The company’s brand portfolio includes Dulux, International, Sikkens, Interpon and other regional and professional brands. Its coatings are applied to buildings, infrastructure, ships, vehicles, industrial equipment, consumer goods and other surfaces to provide decoration, protection and improved durability.

Akzo Nobel traces its history to the 17th and 18th centuries and took its present form following the 1994 merger of Akzo and Nobel Industries.