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

Outokumpu (OTCMKTS:OUTKY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $3.4466, but opened at $3.1668. Outokumpu shares last traded at $3.1668, with a volume of 292 shares traded.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup reissued a “neutral” rating on shares of Outokumpu in a research report on Friday, April 17th. Jefferies Financial Group downgraded Outokumpu from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Outokumpu in a research report on Wednesday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Outokumpu has an average rating of “Hold”.

Outokumpu Price Performance

The stock has a market cap of $3.00 billion, a PE ratio of -21.11 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 0.58. The firm’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $2.75.

Outokumpu (OTCMKTS:OUTKY) last posted its earnings results on Thursday, February 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The firm had revenue of $1.35 billion during the quarter. Outokumpu had a negative net margin of 2.32% and a negative return on equity of 3.67%. On average, research analysts expect that Outokumpu will post 0.05 earnings per share for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe’s leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu’s core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company’s primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.