Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – Should You Buy?

Outokumpu (OTCMKTS:OUTKY)’s share price 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Oddo Bhf raised shares of Outokumpu to an “outperform” rating in a report on Tuesday, May 26th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Outokumpu currently has an average rating of “Hold”.

Outokumpu Stock 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 has a market cap of $3.09 billion, a price-to-earnings ratio of -32.65 and a beta of 0.72. The firm’s 50-day moving average price is $3.10 and its 200 day moving average price is $3.12.

Outokumpu (OTCMKTS:OUTKY) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.39%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, sell-side analysts anticipate that Outokumpu will post 0.12 EPS 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.