Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Here’s What Happened

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.9350, but opened at $3.35. Outokumpu shares last traded at $3.35, with a volume of 282 shares changing hands.

Wall Street Analysts Forecast Growth

OUTKY has been the subject of several analyst reports. Zacks Research upgraded Outokumpu from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft lowered Outokumpu from a “buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group downgraded Outokumpu from a “buy” rating to a “hold” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Outokumpu Trading Up 8.5%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 0.61. The company’s fifty day moving average price is $2.73 and its 200-day moving average price is $2.38. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -19.91 and a beta of 0.59.

Outokumpu (OTCMKTS:OUTKY) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. Outokumpu had a negative return on equity of 3.97% and a negative net margin of 2.55%.The business had revenue of $1.35 billion during the quarter. On average, research analysts expect that Outokumpu will post 0.07 EPS for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.