Acerinox (OTCMKTS:ANIOY) Hits New 52-Week High - Time to Buy?

Key Points

• Acerinox shares reached a new 52-week high of $6.67, marking a notable increase from its previous close of $6.35.
• Analysts have a consensus rating of "Moderate Buy" for Acerinox, with three analysts rating it as a Buy and one as a Hold.
• The company announced an increased dividend of $0.1085 per share, reflecting a 321.0% dividend yield, up from the previous dividend of $0.10.

Acerinox (OTCMKTS:ANIOY - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $6.67 and last traded at $6.67, with a volume of 1131 shares traded. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

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 given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Acerinox Stock Up 5.0%

The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 35.11 and a beta of 1.20. The business has a fifty day moving average of $6.10 and a 200 day moving average of $5.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.16 and a quick ratio of 1.06.

Acerinox (OTCMKTS:ANIOY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.61 billion. On average, equities analysts predict that Acerinox will post 0.48 earnings per share for the current year.

Acerinox Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 4th. Stockholders of record on Friday, July 18th were issued a dividend of $0.1085 per share. The ex-dividend date of this dividend was Thursday, July 17th. This represents a dividend yield of 321.0%. This is a positive change from Acerinox's previous dividend of $0.10. Acerinox's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.