Outokumpu (OTCMKTS:OUTKY) Shares Gap Up – What’s Next?

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $2.58, but opened at $2.76. Outokumpu shares last traded at $2.76, with a volume of 300 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OUTKY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. Citigroup restated a “neutral” rating on shares of Outokumpu in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Outokumpu has an average rating of “Hold”.

Outokumpu Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.61 billion, a PE ratio of -27.60 and a beta of 0.65. The firm’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $3.12.

Outokumpu (OTCMKTS:OUTKY) last issued its 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 for the quarter, compared to analysts’ expectations of $1.97 billion. On average, research analysts predict that Outokumpu will post 0.10 earnings per share for the current year.

About Outokumpu

Outokumpu Oyj is a Finland-based metals company specializing in stainless steel and related products. Its portfolio includes stainless steel in coils, sheets, plates and long products, as well as specialty grades designed for demanding applications such as corrosion resistance, high temperatures and hygiene. The company also produces ferrochrome, an important raw material used in stainless steel manufacturing.

Outokumpu serves customers across industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment.