Outokumpu (OTCMKTS:OUTKY) Shares Gap Down – Here’s Why

Shares of Outokumpu (OTCMKTS:OUTKY) gapped down prior to trading on Thursday. The stock had previously closed at $2.82, but opened at $2.68. Outokumpu shares last traded at $2.68, with a volume of 949 shares.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OUTKY shares. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a research report on Friday, September 4th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Outokumpu has a consensus rating of “Hold”.

Outokumpu Trading Down 5.0%

The company’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $3.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.60. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -26.80 and a beta of 0.65.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.38%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.97 billion. As a group, research analysts expect that Outokumpu will post 0.12 earnings per share for the current fiscal year.

About Outokumpu

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.