Acerinox (OTCMKTS:ANIOY) Posts Earnings Results, Misses Expectations 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) announced its quarterly earnings results 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. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.61 billion. Acerinox had a return on equity of 3.54% and a net margin of 1.59%.

Acerinox Stock Performance

ANIOY opened at $5.97 on Friday. The firm has a market cap of $2.98 billion, a PE ratio of 31.42 and a beta of 1.11. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $6.04 and a 200-day simple moving average of $5.68. Acerinox has a fifty-two week low of $4.45 and a fifty-two week high of $6.50.

Acerinox Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.1085 per share. The ex-dividend date of this dividend is Thursday, July 17th. This is a positive change from Acerinox's previous dividend of $0.10. This represents a dividend yield of 3.21%. Acerinox's dividend payout ratio (DPR) is currently 57.89%.

Wall Street Analyst Weigh In

Separately, BNP Paribas cut Acerinox to a "neutral" rating in a research report on Monday, April 7th.

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.