Norcros’ (NXR) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Norcros (LON:NXR) in a report published on Thursday morning, Marketbeat Ratings reports. They currently have a GBX 325 ($4.07) target price on the stock.

Separately, Shore Capital reiterated a “buy” rating on shares of Norcros in a research note on Thursday.

Norcros Price Performance

LON NXR opened at GBX 247 ($3.10) on Thursday. Norcros has a one year low of GBX 161 ($2.02) and a one year high of GBX 283 ($3.55). The stock has a 50-day moving average of GBX 252.68 and a 200 day moving average of GBX 234.11. The company has a debt-to-equity ratio of 40.60, a quick ratio of 0.91 and a current ratio of 2.02. The company has a market capitalization of £221.04 million, a price-to-earnings ratio of 823.33 and a beta of 1.39.

Norcros Cuts Dividend

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

Norcros Company Profile

Norcros plc, together with its subsidiaries, develops, manufactures, and markets bathroom and kitchen products in the United Kingdom and South Africa. The company manufactures and distributes electric and mixer showers, and accessories under the Triton brand; shower enclosures and trays to the residential, commercial, and hospitality sectors under the Merlyn brand; taps, mixer showers, bathroom accessories, and valves under the Vado brand; and accessories and furniture for the bathroom, such as toilet seats, wall-mounted cupboards, vanity units, shower rods, rails, and curtains to retail and trade customers under the Croydex brand.