Norsk Hydro Q1 Earnings Forecast: Analysts Anticipate Solid Profit
Norsk Hydro, a global aluminum company, is poised to report an adjusted operating profit of NOK 3,313 million (approximately USD 301 million) for the first quarter of 2024, according to consensus estimates from various brokerage houses compiled by Infront. The company's revenue for the same period is expected to reach NOK 46,200 million (approximately USD 4,204 million).
Looking ahead, analysts project a continued upward trajectory for Norsk Hydro's financial performance. The company is anticipated to see its adjusted operating profit increase to NOK 15,524 million (approximately USD 1,413 million) in the full year of 2024, with further growth to NOK 20,419 million (approximately USD 1,858 million) in 2025 and NOK 22,462 million (approximately USD 2,042 million) by 2026.
Investor sentiment on Norsk Hydro's shares is mixed, with three out of ten analysts giving a buy recommendation. Meanwhile, six analysts suggest holding the stock, and one recommends selling. The average price target for Norsk Hydro shares stands at NOK 70.4 (approximately USD 6.41), with forecasts ranging from NOK 50 (approximately USD 4.55) to NOK 85 (approximately USD 7.74) per share.
Brokerage firms participating in the consensus include notable names such as ABG Sundal Collier, Arctic Securities, Carnegie, DNB Markets, Exane BNP Paribas, Handelsbanken Capital Markets, Morgan Stanley, Nordea Markets, Norne Securities, and Pareto Securities.
