Outokumpu (OTCMKTS:OUTKY – Get Free Report) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.5378, but opened at $2.0750. Outokumpu shares last traded at $2.0750, with a volume of 1,900 shares traded.
The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.38%.
Analysts Set New Price Targets
OUTKY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Outokumpu in a report on Friday, September 4th. Citigroup reaffirmed a “neutral” rating on shares of Outokumpu in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.
Outokumpu Price Performance
The stock has a 50 day moving average of $2.89 and a 200-day moving average of $3.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 1.53. The company has a market cap of $1.96 billion, a PE ratio of -20.75 and a beta of 0.67.
Outokumpu Company Profile
Outokumpu Oyj is a Finland-based stainless steel manufacturer serving customers across Europe, the Americas and other international markets. The company produces stainless steel for applications in industries including construction, automotive, transportation, energy, food processing and industrial equipment.
Its product portfolio includes stainless steel coils, sheets, plates, strips and long products, along with specialized grades designed for demanding environments. Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing, and provides related technical, processing and customer support services.
Outokumpu traces its origins to 1910, when copper ore was discovered in Outokumpu, Finland.
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