Acerinox (OTCMKTS:ANIOY) Trading 5% Higher - Time to Buy?

Key Points

• Acerinox's share price increased by 5% to $6.67, with trading volume surging 875% above average levels during mid-day trading.
• Deutsche Bank has reissued a buy rating for Acerinox, contributing to an average rating of Moderate Buy among analysts.
• The company recently raised its dividend to $0.1085 per share, reflecting a yield of 321.0% despite having a high payout ratio of 115.79%.

Acerinox (OTCMKTS:ANIOY - Get Free Report)'s share price traded up 5% during mid-day trading on Friday . The stock traded as high as $6.67 and last traded at $6.67. 1,181 shares changed hands during mid-day trading, an increase of 875% from the average session volume of 121 shares. The stock had previously closed at $6.35.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Acerinox in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Acerinox Trading Up 5.0%

The company's fifty day moving average price is $6.11 and its two-hundred day moving average price is $5.92. 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 cap of $3.17 billion, a P/E ratio of 35.11 and a beta of 1.20.

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). Acerinox had a return on equity of 3.54% and a net margin of 1.59%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.61 billion. As a group, sell-side analysts predict that Acerinox will post 0.48 EPS for the current fiscal year.

Acerinox Increases Dividend

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