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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.18, but opened at $2.37. Outokumpu shares last traded at $2.37, with a volume of 710 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OUTKY. Deutsche Bank Aktiengesellschaft downgraded Outokumpu from a “buy” rating to a “hold” rating in a report on Wednesday, October 29th. Danske raised Outokumpu to a “buy” rating in a research report on Friday, October 3rd. Finally, Zacks Research cut Outokumpu from a “hold” rating to a “strong sell” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Outokumpu presently has an average rating of “Reduce”.

Outokumpu Stock Performance

The firm has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $2.02. The company has a quick ratio of 0.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.24 billion, a PE ratio of -19.75 and a beta of 0.71.

Outokumpu (OTCMKTS:OUTKY) last posted its earnings results on Wednesday, October 29th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $1.52 billion during the quarter. Outokumpu had a negative net margin of 1.83% and a negative return on equity of 2.90%. On average, research analysts forecast that Outokumpu will post 0.07 EPS for the current fiscal year.

Outokumpu Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a $0.0343 dividend. This represents a dividend yield of 297.0%. The ex-dividend date of this dividend was Wednesday, October 15th. Outokumpu’s dividend payout ratio is presently -33.33%.

Outokumpu Company Profile

Outokumpu Oyj produces and sells various stainless steel products in Finland, other European countries, North America, the Asia-Pacific, and internationally. The company operates through three segments: Europe, Americas, and Ferrochrome. It offers cold rolled coils, strips, and sheets; hot rolled coils, strips, and plates; quarto plates; precision strips; and specialized components, such as welded stainless-steel I-beams, H-beams, hollow-section tubes, bent profiles, structural sections, hardened and customized press plates, suction roll shells, and blancs and disks.