Norcros’ (NXR) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Norcros (LON:NXR) in a report issued on Thursday, Marketbeat reports. The brokerage currently has a GBX 325 ($4.09) price objective on the stock.

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

Norcros Stock Performance

Shares of LON:NXR opened at GBX 247 ($3.11) on Thursday. 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 252.44 and a 200-day moving average price of GBX 234.03. The company has a market cap of £221.04 million, a price-to-earnings ratio of 821.07 and a beta of 1.39. Norcros has a 12 month low of GBX 161 ($2.03) and a 12 month high of GBX 283 ($3.56).

Norcros Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Thursday, November 28th will be issued a GBX 3.50 ($0.04) dividend. The ex-dividend date of this dividend is Thursday, November 28th. This represents a yield of 1.41%. 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.