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

Outokumpu (OTCMKTS:OUTKY) gapped down prior to trading on Wednesday. The stock had previously closed at $3.30, but opened at $3.1833. Outokumpu shares last traded at $3.1833, with a volume of 1,030 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on OUTKY. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Outokumpu Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.60. The stock has a 50-day simple moving average of $3.17 and a 200-day simple moving average of $3.13. The stock has a market cap of $3.01 billion, a P/E ratio of -31.83 and a beta of 0.65.

Outokumpu (OTCMKTS:OUTKY) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 2.38% and a negative net margin of 1.48%. Research analysts forecast that Outokumpu will post 0.12 earnings per share for the current year.

About Outokumpu

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.