Acerinox (OTCMKTS:ANIOY) Shares Gap Down – What’s Next?

Acerinox (OTCMKTS:ANIOY) gapped down before the market opened on Monday. The stock had previously closed at $10.21, but opened at $9.65. Acerinox shares last traded at $9.65, with a volume of 282 shares traded.

Wall Street Analysts Forecast Growth

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

Acerinox Stock Performance

The stock has a fifty day simple moving average of $10.12 and a 200-day simple moving average of $9.10. The stock has a market cap of $4.77 billion, a P/E ratio of 73.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.65.

Acerinox (OTCMKTS:ANIOY) last released its quarterly earnings results on Friday, July 24th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $3.51 billion. Acerinox had a return on equity of 2.59% and a net margin of 0.95%. On average, equities analysts expect that Acerinox will post 0.51 earnings per share for the current year.

About Acerinox

Acerinox, SA is a Spanish manufacturer of stainless steel and high-performance alloys. The company produces flat and long stainless-steel products, including sheets, coils, plates, bars, wire rod and wire, serving applications such as construction, transportation, energy, industrial equipment, food processing and household products.

Founded in 1970, Acerinox has developed an international production and distribution network. Its principal manufacturing operations have included facilities in Spain, the United States and South Africa, while its commercial network serves customers across Europe, the Americas, Africa and Asia.