Outokumpu (OTCMKTS:OUTKY) Shares Down 6% – Here’s Why

Outokumpu (OTCMKTS:OUTKY)’s stock price traded down 6% on Friday. The company traded as low as $2.81 and last traded at $2.81. 1,000 shares changed hands during trading, a decline of 66% from the average daily volume of 2,963 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

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

Outokumpu Stock Down 11.7%

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 firm has a market cap of $2.66 billion, a PE ratio of -28.10 and a beta of 0.65. The business has a 50-day moving average price of $3.17 and a two-hundred day moving average price of $3.13.

Outokumpu (OTCMKTS:OUTKY) last announced 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 net margin of 1.48% and a negative return on equity of 2.38%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities research analysts expect that Outokumpu will post 0.12 EPS 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.