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

Norcros plc (LON:NXR)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 244.05 ($2.97) and traded as low as GBX 239.20 ($2.91). Norcros shares last traded at GBX 242 ($2.94), with a volume of 234,169 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXR shares. Berenberg Bank reissued a “buy” rating and set a GBX 325 ($3.95) target price on shares of Norcros in a research report on Thursday, November 21st. Shore Capital reiterated a “buy” rating on shares of Norcros in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 375 ($4.56) target price on shares of Norcros in a report on Friday, November 22nd.

Norcros Stock Performance

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 £216.57 million, a PE ratio of 806.67 and a beta of 1.39. The firm has a fifty day moving average price of GBX 254.57 and a two-hundred day moving average price of GBX 244.17.

Norcros Cuts Dividend

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

Norcros Company Profile

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.