Acerinox (OTCMKTS:ANIOY) Shares Gap Up - Here's Why

Key Points

• Acerinox shares gapped up from $5.87 to $6.22 before the market opened, indicating positive market sentiment.
• Analysts have given Acerinox a Moderate Buy rating, with three analysts rating it as a Buy and one as a Hold.
• The company recently announced a dividend increase to $0.1085, resulting in a dividend yield of 321.0%, up from the previous $0.10.

Acerinox (OTCMKTS:ANIOY - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.87, but opened at $6.22. Acerinox shares last traded at $6.22, with a volume of 267 shares traded.

Analyst Upgrades and Downgrades

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

Acerinox Stock Up 6.0%

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 stock has a 50-day simple moving average of $6.08 and a 200-day simple moving average of $5.79. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 32.74 and a beta of 1.11.

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

Acerinox Increases Dividend

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

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