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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.02, but opened at $3.34. Outokumpu shares last traded at $3.34, with a volume of 101 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OUTKY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a research note on Wednesday, May 13th. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a report 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Outokumpu Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.56. The company’s 50 day moving average price is $3.16 and its 200 day moving average price is $3.09. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -33.40 and a beta of 0.72.

Outokumpu (OTCMKTS:OUTKY) last announced its earnings results 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). Outokumpu had a negative return on equity of 2.39% and a negative net margin of 1.48%.The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.97 billion. On average, equities research analysts predict that Outokumpu will post 0.14 earnings per share for the current fiscal 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.