Acerinox (OTCMKTS:ANIOY) Shares Gap Down on Disappointing Earnings

Acerinox (OTCMKTS:ANIOY) gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $9.42, but opened at $8.8550. Acerinox shares last traded at $8.8340, with a volume of 393 shares.

The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.87 billion. Acerinox had a net margin of 1.93% and a return on equity of 5.41%.

Analysts Set New Price Targets

A number of research analysts recently commented on ANIOY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Acerinox in a research note on Friday, September 4th. Jefferies Financial Group upgraded shares of Acerinox to a “strong-buy” rating in a research note on Monday, July 13th. BNP Paribas Exane lowered shares of Acerinox from a “neutral” rating to an “underperform” rating in a report on Wednesday, July 8th. Finally, Citigroup restated a “buy” rating on shares of Acerinox in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Acerinox Trading Up 1.0%

The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 33.06 and a beta of 1.07. The company has a current ratio of 1.65, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $9.73 and its two-hundred day moving average price is $8.80.

Acerinox Company Profile

Acerinox, SA is a Spain-based metals producer specializing in stainless steel and high-performance alloys. Its product portfolio includes stainless steel flat and long products, such as sheet, coil, plate, bar, wire and other fabricated forms, serving applications in construction, industrial equipment, transportation, energy, food processing and consumer products.

Founded in 1970, Acerinox has developed into an international manufacturing and distribution group. Its operations include production facilities in Spain, the United States and South Africa, including North American Stainless in Kentucky and Columbus Stainless in South Africa.