Acerinox (OTCMKTS:ANIOY) Shares Gap Up - Still a Buy?

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.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Acerinox in a research 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 company's stock. According to MarketBeat, Acerinox presently has a consensus rating of "Moderate Buy".

Acerinox Stock Performance

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 market capitalization of $3.06 billion, a PE ratio of 32.34 and a beta of 1.10. The firm's fifty day moving average price is $6.09 and its two-hundred day moving average price is $5.82.

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

Acerinox Increases Dividend

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