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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $3.26, but opened at $2.69. Outokumpu shares last traded at $2.69, with a volume of 1,316 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating on shares of Outokumpu in a report on Thursday, January 22nd. Jefferies Financial Group lowered shares of Outokumpu from a “buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Zacks Research raised shares of Outokumpu from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Outokumpu Price Performance

The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -16.81 and a beta of 0.55. The company has a current ratio of 1.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $2.98 and its two-hundred day moving average is $2.54.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $1.35 billion during the quarter. Outokumpu had a negative return on equity of 4.00% and a negative net margin of 2.55%. As a group, research analysts predict that Outokumpu will post 0.07 earnings per share for the current year.

About Outokumpu

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.