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

Berenberg Bank restated 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 target on the stock.

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

Norcros Stock Performance

Shares of Norcros stock opened at GBX 247 ($3.11) on Thursday. Norcros has a 12 month low of GBX 161 ($2.03) and a 12 month high of GBX 283 ($3.56). The firm has a market capitalization of £221.04 million, a P/E ratio of 821.07 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 business has a fifty day simple moving average of GBX 252.44 and a two-hundred day simple moving average of GBX 234.03.

Norcros Cuts Dividend

The business also recently announced 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. This represents a yield of 1.41%. The ex-dividend date is Thursday, November 28th. Norcros’s dividend payout ratio (DPR) is 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.