Voestalpine (OTCMKTS:VLPNY) Stock Falls 10.4% After Earnings Miss

Voestalpine AG (OTCMKTS:VLPNY) dropped 10.4% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $8.3250 and last traded at $8.33. Approximately 323 shares changed hands during trading, a decline of 93% from the average daily volume of 4,603 shares. The stock had previously closed at $9.30.

The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). Voestalpine had a return on equity of 6.66% and a net margin of 3.39%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.20 billion.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VLPNY shares. UBS Group upgraded Voestalpine from a “hold” rating to a “buy” rating in a research report on Friday, October 9th. Deutsche Bank reissued a “buy” rating on shares of Voestalpine in a report on Friday, September 4th. Finally, Zacks Research upgraded shares of Voestalpine from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Voestalpine Stock Down 10.4%

The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 11.90 and a beta of 1.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.41 and a quick ratio of 0.54. The firm’s fifty day moving average price is $9.80 and its 200-day moving average price is $10.02.

About Voestalpine

voestalpine AG is an Austria-based steel and technology group headquartered in Linz. Its business spans steel production and processing, specialty metals, metal forming, and railway infrastructure. The company supplies products and services to industries including automotive, rail, aerospace, energy, and mechanical engineering. Its offerings include high-performance steels and components, automotive parts, tooling, and rail, switch, and signaling systems. voestalpine’s roots trace to steelworks established in Linz in 1938.