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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped down prior to trading 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OUTKY shares. Deutsche Bank reissued a “hold” rating on shares of Outokumpu in a research note on Friday, September 4th. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Outokumpu presently has an average rating of “Hold”.

Outokumpu Trading Up 0.2%

The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.93 billion, a P/E ratio of -67.81 and a beta of 0.67. The company has a 50-day moving average price of $2.77 and a 200 day moving average price of $3.03.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Friday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Outokumpu had a negative net margin of 0.42% and a negative return on equity of 0.72%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, research analysts forecast that Outokumpu will post 0.10 earnings per share for the current fiscal year.

Outokumpu Company Profile

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.