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

Shares of Outokumpu (OTCMKTS:OUTKY) gapped down prior to trading on Monday . The stock had previously closed at $3.2950, but opened at $3.00. Outokumpu shares last traded at $3.00, with a volume of 533 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on OUTKY shares. Oddo Bhf raised Outokumpu to an “outperform” rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Outokumpu has an average rating of “Hold”.

Outokumpu Stock Performance

The company has a market cap of $2.83 billion, a P/E ratio of -29.90 and a beta of 0.72. The business has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $3.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.53.

Outokumpu (OTCMKTS:OUTKY) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Outokumpu had a negative return on equity of 2.38% and a negative net margin of 1.48%.The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, sell-side analysts anticipate that Outokumpu will post 0.12 earnings per share for the current year.

About Outokumpu

Outokumpu Oyj is a Finland-based global producer of stainless steel. The company manufactures stainless steel products for industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment. Its product portfolio includes stainless steel coils, sheets, plates, precision strip, long products and other customized materials.

Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing. The company emphasizes high-performance and low-emission stainless steel solutions, including products made with recycled materials and its lower-carbon Circle Green offering.

With roots in Finnish mining and metals operations dating to the early 20th century, Outokumpu has developed into an international metals group serving customers across Europe, the Americas and other global markets.