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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.23, but opened at $3.02. Outokumpu shares last traded at $3.28, with a volume of 201 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Citigroup restated a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Finally, Oddo Bhf upgraded Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Outokumpu Stock Up 8.6%

The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -32.80 and a beta of 0.72. The firm’s fifty day moving average is $3.17 and its 200-day moving average is $3.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60.

Outokumpu (OTCMKTS:OUTKY) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.97 billion. Outokumpu had a negative return on equity of 2.39% and a negative net margin of 1.48%. On average, sell-side analysts predict that Outokumpu will post 0.14 earnings per share for the current 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.