February 16, 2018 / 8:01 AM / a month ago

BUZZ-Norway's Norsk Hydro posts strong report, say analysts

** Aluminum-maker Norsk Hydro reported underlying operating profit below forecasts on Friday due to one off-costs related to the integration of its full acquisition of Sapa while key units where in line or above expectations.

** The firm raised its dividend to 1.75 Norwegian crowns per share in 2017 from 1.25 crowns in 2016.

** Broker Credit Suisse: Unlike its peers who reported recently, this is a good report and shares may rise towards our target price

** Broker Pareto: Strong report and dividend hike. The main deviation is found in other and eliminations, while operating segments came in above expectations (3 pct above our estimate and 14 pct above consensus). Results are driven by higher alumina and aluminum prices

** Broker SEB: Q4 figures were well above consensus for all divisions, except for Extruded Solutions (Sapa). The board proposes a dividend of NOK 1.75 for 2017, well above consensus of NOK 1.35 and in line with our estimate

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