Norcros (LON:NXR) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Norcros plc (LON:NXR) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 244.63 ($3.02) and traded as low as GBX 239 ($2.95). Norcros shares last traded at GBX 239 ($2.95), with a volume of 642,453 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NXR shares. Shore Capital restated a “buy” rating on shares of Norcros in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 375 ($4.63) target price on shares of Norcros in a report on Friday, November 22nd. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 325 ($4.01) price target on shares of Norcros in a research note on Thursday, November 21st.

Norcros Price Performance

The firm has a market cap of £213.88 million, a PE ratio of 796.67 and a beta of 1.39. The company has a current ratio of 2.02, a quick ratio of 0.91 and a debt-to-equity ratio of 40.60. The company has a 50 day moving average price of GBX 253.07 and a 200 day moving average price of GBX 244.63.

Norcros (LON:NXR) last issued its quarterly earnings data on Thursday, November 21st. The company reported GBX 14.20 ($0.18) earnings per share (EPS) for the quarter. Norcros had a return on equity of 12.38% and a net margin of 6.84%. On average, sell-side analysts expect that Norcros plc will post 31.3118812 EPS for the current year.

Norcros Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, January 14th. Investors of record on Thursday, November 28th were given a GBX 3.50 ($0.04) dividend. The ex-dividend date of this dividend was Thursday, November 28th. This represents a dividend yield of 1.41%. Norcros’s dividend payout ratio is presently 3,333.33%.

About Norcros

Norcros is a market leading group of brands providing design led, high quality bathroom and kitchen products with operations primarily in the UK and South Africa.

Based in the UK, Norcros operates under six brands:

· Triton – Market leader in the manufacture and marketing of showers in the UK
· Merlyn – UK and Ireland’s No.1 supplier of shower enclosures and trays to the residential, commercial, and hospitality sectors
· Grant Westfield – Leading manufacturer of high-end waterproof bathroom wall panels
· Vado – Leading manufacturer and supplier of taps, mixer showers, bathroom accessories, and valves
· Croydex – Market-leading, innovative designer, manufacturer, and distributor of high-quality bathroom furnishings and accessories
· Abode – Leading niche designer and distributor of high-quality kitchen taps, bathroom taps, and kitchen sinks

Based in South Africa, Norcros operates under four brands:

· Tile Africa – Chain of retail stores focused on ceramic and porcelain tiles and associated products such as sanitaryware, showers, and adhesives
· Johnson Tiles South Africa – Manufacturer of ceramic and porcelain tiles
· TAL – Leading manufacturer of ceramic and building adhesives in South Africa
· House of Plumbing – Market-leading supplier of specialist plumbing materials

Norcros is headquartered in Wilmslow, Cheshire and employs around 2,100 people.