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

Shares of Outokumpu (OTCMKTS:OUTKY) gapped up prior to trading on Wednesday . The stock had previously closed at $3.10, but opened at $3.2650. Outokumpu shares last traded at $3.2650, with a volume of 2,307 shares trading hands.

Analyst Ratings Changes

OUTKY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Wednesday, May 13th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Wednesday, May 20th. Finally, Oddo Bhf upgraded shares of Outokumpu to an “outperform” rating in a research report on Tuesday, May 26th. Two 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, the stock presently has an average rating of “Hold”.

Outokumpu Stock Performance

The stock has a market cap of $3.09 billion, a P/E ratio of -32.65 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 0.60. The stock’s 50 day simple moving average is $3.10 and its two-hundred day simple moving average is $3.12.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.03 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 2.39% and a negative net margin of 1.48%. As a group, research analysts forecast 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.