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

Outokumpu (OTCMKTS:OUTKY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.1845, but opened at $3.10. Outokumpu shares last traded at $3.10, with a volume of 586 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on OUTKY. Oddo Bhf raised Outokumpu to an “outperform” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Finally, Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Outokumpu has a consensus rating of “Hold”.

Outokumpu Stock Performance

The business has a fifty day moving average of $3.13 and a 200 day moving average of $3.11. The company has a market cap of $2.93 billion, a P/E ratio of -31.00 and a beta of 0.72. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.15.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.97 billion. On average, equities analysts predict that Outokumpu will post 0.12 EPS for the current 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.