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

Shares of Outokumpu (OTCMKTS:OUTKY) gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

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

Outokumpu Stock Performance

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 stock has a market capitalization of $2.54 billion, a PE ratio of -16.81 and a beta of 0.55. The firm’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $2.53.

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