Acerinox (OTCMKTS:ANIOY) Issues Earnings Results, Misses Estimates By $0.20 EPS

Key Points

• Acerinox reported a quarterly loss of ($0.06) earnings per share, which missed analysts' expectations of $0.14 by $0.20.
• The company also disclosed an increased dividend of $0.1085 per share, reflecting a dividend yield of 3.21% and a payout ratio of 57.89%.
• According to BNP Paribas, Acerinox has been downgraded to a "neutral" rating based on recent performance.

Acerinox (OTCMKTS:ANIOY - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.20), Zacks reports. Acerinox had a net margin of 1.59% and a return on equity of 3.54%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.61 billion.

Acerinox Stock Performance

ANIOY stock remained flat at $5.97 during trading on Wednesday. The company had a trading volume of 2 shares, compared to its average volume of 1,580. The business's fifty day simple moving average is $6.06 and its 200 day simple moving average is $5.70. Acerinox has a fifty-two week low of $4.45 and a fifty-two week high of $6.50. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 31.42 and a beta of 1.11.

Acerinox Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, August 4th. Investors of record on Friday, July 18th will be issued a $0.1085 dividend. This represents a yield of 3.21%. This is an increase from Acerinox's previous dividend of $0.10. The ex-dividend date is Thursday, July 17th. Acerinox's dividend payout ratio is presently 115.79%.

Analyst Upgrades and Downgrades

ANIOY has been the subject of several research analyst reports. BNP Paribas cut Acerinox to a "neutral" rating in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Acerinox in a report on Friday.

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.