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

Outokumpu (OTCMKTS:OUTKY – Get Free Report) gapped down before the market opened on Wednesday. The stock had previously closed at $3.30, but opened at $3.1833. Outokumpu shares last traded at $3.1833, with a volume of 1,030 shares changing hands.

Analyst Ratings Changes

OUTKY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Outokumpu in a research note on Friday, September 4th. Citigroup reissued a “neutral” rating on shares of Outokumpu in a report on Tuesday, September 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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Outokumpu Trading Down 3.5%

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 $3.01 billion, a price-to-earnings ratio of -31.83 and a beta of 0.72. The company has a fifty day moving average of $3.16 and a 200-day moving average of $3.13.

Outokumpu (OTCMKTS:OUTKY – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.97 billion. Outokumpu had a negative return on equity of 2.38% and a negative net margin of 1.48%. As a group, equities research analysts anticipate that Outokumpu will post 0.12 earnings per share for the current fiscal year.

Outokumpu Company Profile

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Outokumpu Oyj is a Finland-based global producer of stainless steel. The company manufactures stainless steel products for industries including construction, automotive, transportation, energy, food and beverage, and industrial equipment. Its product portfolio includes stainless steel coils, sheets, plates, precision strip, long products and other customized materials.

Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing. The company emphasizes high-performance and low-emission stainless steel solutions, including products made with recycled materials and its lower-carbon Circle Green offering.

With roots in Finnish mining and metals operations dating to the early 20th century, Outokumpu has developed into an international metals group serving customers across Europe, the Americas and other global markets.

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