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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped down before the market opened on Friday. The stock had previously closed at $2.0750, but opened at $2.00. Outokumpu shares last traded at $2.00, with a volume of 490 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OUTKY shares. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. Deutsche Bank reaffirmed 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 an average rating of “Hold”.

Outokumpu Stock Up 0.2%

The company’s 50-day moving average is $2.77 and its 200 day moving average is $3.03. The stock has a market capitalization of $1.93 billion, a PE ratio of -67.81 and a beta of 0.67. The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15.

Outokumpu (OTCMKTS:OUTKY) last released its earnings results on Friday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Outokumpu had a negative return on equity of 0.72% and a negative net margin of 0.42%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts anticipate that Outokumpu will post 0.10 EPS for the current year.

About Outokumpu

Outokumpu is a Finnish stainless steel producer headquartered in Espoo. The company makes stainless steel products for customers in industries such as construction, transportation, household appliances and process manufacturing. Its offerings include stainless steel sheets, coils, strips and other forms, as well as ferrochrome, an important material used in stainless steel production. Outokumpu also works with recycled materials as part of its steelmaking operations. The company traces its origins to a copper deposit discovered in Outokumpu, Finland, in 1910.