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

Shares of Outokumpu (OTCMKTS:OUTKY) gapped down before the market opened on Thursday. The stock had previously closed at $2.82, but opened at $2.68. Outokumpu shares last traded at $2.68, with a volume of 949 shares traded.

Analyst Ratings Changes

OUTKY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed 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 research note on Tuesday, September 15th. One equities research 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.com, Outokumpu has a consensus rating of “Hold”.

Outokumpu Trading Down 5.0%

The stock has a market capitalization of $2.54 billion, a PE ratio of -26.80 and a beta of 0.65. The company has a quick ratio of 0.60, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average is $3.13 and its two-hundred day moving average is $3.12.

Outokumpu (OTCMKTS:OUTKY) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.97 billion. On average, analysts anticipate that Outokumpu will post 0.12 earnings per share for the current fiscal year.

Outokumpu Company Profile

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.