Berenberg Bank Reiterates “Buy” Rating for Norcros (LON:NXR)

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

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

Norcros Stock Up 0.1 %

Norcros stock opened at GBX 247.14 ($3.11) on Thursday. The company has a debt-to-equity ratio of 40.60, a current ratio of 2.02 and a quick ratio of 0.91. The stock has a market capitalization of £221.17 million, a price-to-earnings ratio of 823.33 and a beta of 1.39. Norcros has a 1-year low of GBX 161 ($2.03) and a 1-year high of GBX 283 ($3.56). The business has a fifty day moving average price of GBX 252.68 and a 200-day moving average price of GBX 234.11.

Norcros Cuts Dividend

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

About Norcros

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.