|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||28.34 - 28.57|
|52 Week Range||27.37 - 37.16|
|Beta (3Y Monthly)||0.68|
|PE Ratio (TTM)||20.86|
|Forward Dividend & Yield||0.70 (2.47%)|
|1y Target Est||N/A|
Shares in Akzo Nobel fell 3 percent on Wednesday as the Dutch paints and coatings maker left analysts questioning whether its 2020 financial targets were overly ambitious, despite an increase in first-quarter profits. Adjusted operational income rose 9 percent to 163 million euros (£141.35 million) in the first three months of 2019, missing the 182 million euros average analysts polled by the company had predicted. "Results came in well below expectations", ING analyst Stijn Demeester said, adding Akzo had felt the continued raw materials inflation.
, Jim Cramer says. Akzo was trading up around 4% in Amsterdam on Wednesday after unveiling a stock-buyback plan and reporting that earnings report that showed fourth-quarter revenues rose 1% to about $2.6 billion (2.31 billion euros). Akzo also said that revenues would have jumped 4% except for unfavorable currency-exchanges rate.
Dutch paint maker Akzo Nobel on Wednesday posted flat fourth-quarter core earnings of 240 million euros ($272 million).
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it Read More...
Euro-denominated loans are trading better on recent cross-border deals from issuers such as Refinitiv, the former Financial & Risk unit of Thomson Reuters, and Akzo Nobel’s chemical unit, in the midst of turbulent market conditions in the US. Bankers and investors attribute the difference to greater demand in Europe compared to the US. The banker said the loan market in Europe tends to be dominated by CLOs as investors, whereas in the US demand is dominated by retail loan funds.
Dutch paints and coatings maker Akzo Nobel improved its third quarter operating profit by some 8 percent despite the impact from raw material inflation, which it said on Wednesday had peaked. More expensive materials such as oil left Akzo Nobel struggling in the first half of this year, after a stand-off with disgruntled shareholders in 2017 over a rejected 26 billion euros ($30 billion) takeover offer from rival PPG Industries. Adjusted operating profit rose to 243 million euros, narrowly beating the average expectation in a Reuters poll of analysts.
Akzo Nobel reported a net revenue of 2.33 billion euros ($2.69 billion), missing Reuters expectations of 2.48 billion euros. The company's third-quarter core profit rose 8 percent to 243 million euros, underpinned by higher prices and costs savings. Earlier this year, Akzo Nobel sold its Specialty Chemicals division for 10 billion euros to Carlyle Group after it rejected an unwanted takeover offer from U.S. rival PPG Industries in 2017.
AMSTERDAM (Reuters) - Akzo Nobel's former chemicals subsidiary will likely return to the market as a standalone public company in three to five years, its new CEO Charles Shaver said on Tuesday. Shaver ...
In anticipation, it even paid a 1 billion-euro special dividend in December. The Dutch company’s present market value, plus the special dividend, is 21 billion euros. The simpler Akzo will be a much more digestible entity for any buyer.
Dutch paintmaker Akzo Nobel said on Tuesday it would return 5.5 billion euros ($6.4 billion) to shareholders after the sale of its speciality chemicals division closed this week, fulfilling a promise made in March to give shareholders a large majority of the proceeds. The company said it would buy back 2.5 billion euros of shares and distribute 1 billion euros in a special dividend. In addition, it will distribute 1 billion euros in paid-in capital.
Akzo Nobel NV plans to distribute another 5.5 billion euros ($6.4 billion) to shareholders from the sale of its specialty-chemicals business, rewarding investors for a plan that the paint company used to fend off an unwanted takeover approach. The proceeds will be distributed using a capital repayment and share consolidation of 2 billion euros, a cash dividend of 1 billion euros and a 2.5 billion-euro stock buyback, the Amsterdam-based company said in a statement Tuesday. The paint-and-coatings maker already paid a 1-billion-euro special dividend in December in anticipation of the sale of the chemicals business, which Carlyle Group LP agreed to buy in March.
Paints and coatings maker Akzo Nobel's largest Dutch plant was operating at 40 percent of capacity on Tuesday, as workers began a 48-hour strike for better pay and higher pensions, a spokesman for the company said. Around 10 percent of the 1,200 workers at Akzo Nobel's factory in Sassenheim joined the strike, the spokesman said, in a conflict that is focused mainly on the unions' demand that Akzo injects an extra 400 million euros ($471 million) in its pension fund. Work stoppages were also causing a smaller Dutch factory to run at half its capacity on Tuesday, Akzo said, and were expected to hit production at a third plant on Thursday.
The decision of a group of Wall Street banks to underwrite the buyout financing for Akzo Nobel NV chemicals unit paid off, with the 6.4 billion-euro ($7.5 billion) debt sale wrapping up this week after attracting overwhelming demand. Barclays Plc, HSBC Holdings Plc and JPMorgan Chase & Co. earlier this year committed to fund Carlyle Group LP’s $12.5 billion acquisition of the Akzo Nobel business at a time when the leveraged finance market was burning hot.
Apr.24 -- AkzoNobel NV Chief Executive Officer Thierry Vanlancker talks about the company's financial results, business strategy and outlook. The Dutch maker of Dulux and Glidden household paint brands reported profit that missed analyst estimates as it grappled against higher raw-material costs and an automotive slowdown weighed on demand for its coatings. Vanlancker speaks on "Bloomberg Markets: European Open." (Video edited to remove incorrect graphic.)
Thierry Vanlancker discusses discusses AkzoNobel's performance in the Chinese market and potential consolidation in the industry.