Norcros (LON:NXR) Announces Quarterly Earnings Results

Norcros (LON:NXR) announced its earnings results on Wednesday. The company reported GBX 36.30 earnings per share for the quarter, Digital Look Earnings reports. The company had revenue of £393.40 million during the quarter. Norcros had a net margin of 0.08% and a return on equity of 0.15%.

Norcros Stock Down 0.1%

Shares of LON:NXR opened at GBX 296.74 on Thursday. The firm’s 50 day moving average price is GBX 285.37 and its 200 day moving average price is GBX 309.13. The stock has a market cap of £266.73 million, a price-to-earnings ratio of 21.20 and a beta of 1.02. Norcros has a fifty-two week low of GBX 252 and a fifty-two week high of GBX 374. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 65.07.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 440 target price on shares of Norcros in a research note on Thursday, June 11th. Shore Capital Group reissued a “house stock” rating and issued a GBX 630 price objective on shares of Norcros in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Norcros has a consensus rating of “Buy” and an average price target of GBX 470.

About Norcros

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.