Acerinox (OTCMKTS:ANIOY) Hits New 1-Year High - What's Next?

Key Points

• Acerinox shares reached a new 52-week high of $6.68, with a modest trading volume of 105 shares.
• Despite missing earnings expectations for the last quarter, Acerinox reported revenue of $1.71 billion against estimates of $1.61 billion.
• The company has announced a dividend increase to $0.1085, reflecting a dividend yield of 321.0%, although the payout ratio stands at 115.79%.

Shares of Acerinox (OTCMKTS:ANIOY - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $6.68 and last traded at $6.68, with a volume of 105 shares. The stock had previously closed at $6.67.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Acerinox in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Acerinox presently has an average rating of "Moderate Buy".

Acerinox Stock Up 0.1%

The firm has a market cap of $3.33 billion, a P/E ratio of 35.16 and a beta of 1.26. The business has a fifty day moving average of $6.16 and a 200 day moving average of $5.94.

Acerinox (OTCMKTS:ANIOY - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.20). Acerinox had a return on equity of 3.54% and a net margin of 1.59%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.61 billion. Research analysts expect that Acerinox will post 0.48 EPS for the current year.

Acerinox Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 18th were given a $0.1085 dividend. The ex-dividend date was Thursday, July 17th. This is a positive change from Acerinox's previous dividend of $0.10. This represents a dividend yield of 321.0%. Acerinox's dividend payout ratio (DPR) is presently 115.79%.

Acerinox Company Profile

Acerinox, SA, together with its subsidiaries, manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally. It operates through Stainless steel, and High-performance Alloys segments. The company offers flat products, including hot and cold rolled coils and sheets, strips, flat bars, and discs, as well as engraved coil and sheet, black coil, slabs, circles, billets, and plates.

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