Iberdrola (OTCMKTS:IBDRY) Reaches New 1-Year High – Here’s Why

Iberdrola S.A. (OTCMKTS:IBDRY)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $100.64 and last traded at $99.90, with a volume of 52672 shares changing hands. The stock had previously closed at $100.11.

Wall Street Analysts Forecast Growth

IBDRY has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Iberdrola to a “hold” rating in a research report on Friday, June 26th. Erste Group Bank upgraded shares of Iberdrola from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Finally, Barclays upgraded shares of Iberdrola from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Iberdrola Price Performance

The firm has a market capitalization of $168.78 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.54 and a beta of 0.64. The business’s fifty day moving average is $93.24 and its 200 day moving average is $91.15. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.72.

Iberdrola (OTCMKTS:IBDRY) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.62 billion. Iberdrola had a return on equity of 9.88% and a net margin of 13.40%. As a group, analysts forecast that Iberdrola S.A. will post 4.59 EPS for the current year.

Iberdrola Company Profile

Iberdrola, SA is a Spanish multinational electric utility headquartered in Bilbao that develops, produces and supplies electricity and related energy services. The company’s core activities span electricity generation across a diverse mix of assets, transmission and distribution network ownership and operation, and retail supply to residential, commercial and industrial customers. Iberdrola also offers energy management and digital solutions aimed at improving efficiency and integrating distributed and renewable resources.

Renewable energy is a central focus of Iberdrola’s business strategy, with significant investments in wind (onshore and offshore), hydroelectric and solar power and in the modernization of grids to accommodate increasing shares of intermittent generation.