Akzo Nobel (OTCMKTS:AKZOY) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Akzo Nobel NV (OTCMKTS:AKZOY)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $22.65 and traded as high as $24.65. Akzo Nobel shares last traded at $24.50, with a volume of 30,677 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AKZOY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Akzo Nobel in a research report on Monday, June 29th. Zacks Research raised shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Citigroup began coverage on shares of Akzo Nobel in a research report on Friday, June 5th. They set a “buy” rating on the stock. One investment 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 MarketBeat, the company has a consensus rating of “Hold”.

Akzo Nobel Stock Performance

The company has a current ratio of 1.88, a quick ratio of 1.49 and a debt-to-equity ratio of 1.09. The firm has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $21.65. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17.

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 the consensus estimate of $0.45 by ($0.04). Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.96 billion. As a group, sell-side analysts forecast that Akzo Nobel NV will post 1.47 earnings per share for the current fiscal year.

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.