Outokumpu Oyj (OTCMKTS:OUTKY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Thursday, Zacks.com reports.
According to Zacks, "Outokumpu Oyj is engages in the manufacturing of stainless steel. Its business area consists of Stainless Coil EMEA, Stainless Coil Americas, Stainless APAC and High Performance Stainless and Alloy. The company operates primarily in Europe, Middle East and Africa, Americas and Asia-Pacific. Outokumpu Oyj is headquartered in Espoo, Finland. "
Several other analysts have also commented on OUTKY. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Outokumpu Oyj in a report on Friday, February 5th. Jefferies Financial Group lowered Outokumpu Oyj from a "hold" rating to an "underperform" rating in a report on Thursday, December 10th. SEB Equities raised Outokumpu Oyj from a "hold" rating to a "buy" rating in a report on Wednesday, December 16th. Credit Suisse Group reissued an "underperform" rating on shares of Outokumpu Oyj in a report on Friday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Outokumpu Oyj in a report on Friday, February 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of "Hold" and a consensus target price of $2.75.
Shares of OUTKY stock opened at $3.07 on Thursday. The stock has a 50 day moving average of $2.60 and a 200 day moving average of $1.92. The company has a current ratio of 1.25, a quick ratio of 0.60 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.52 billion, a P/E ratio of -23.58 and a beta of 0.96. Outokumpu Oyj has a twelve month low of $1.17 and a twelve month high of $3.07.
Outokumpu Oyj (OTCMKTS:OUTKY) last announced its quarterly earnings results on Thursday, February 4th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.56 billion. Outokumpu Oyj had a negative net margin of 1.68% and a negative return on equity of 3.75%. On average, research analysts predict that Outokumpu Oyj will post -0.2 earnings per share for the current fiscal year.
Outokumpu Oyj Company Profile
Outokumpu Oyj produces and sells various stainless steel products in Finland, other European countries, North America, the Asia-Pacific, and internationally. It offers cold rolled coils, strips, and sheets; precision strips; hot rolled coils, strips, and plates; quarto plates; semi-finished stainless steel long products; stainless steel wire rods, drawn wire, bars, and rebars; welded stainless steel I-beams, H-beams, hollow-section tubes, and bent profiles for load-bearing structures; suction roll shell blanks; blancs and discs; and customized press plates and ready-to-use plates.
Recommended Story: How do candlesticks reflect price movement?
Get a free copy of the Zacks research report on Outokumpu Oyj (OUTKY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 [email protected]
Featured Article: What are the most popular ETFs7 Precious Metals Stocks That Will Keep Your Portfolio On Trend
The growing acceptance of cryptocurrency is beginning to make mainstream investors rethink their idea of “store of value.” The trendy possibilities of Bitcoin, Ethereum, and any of the dozens of altcoins that exist on the blockchain are trending like the latest fashion.
However, the thing about fashion is that the more things change the more things stay the same. Just like the simple black dress that won’t go out of fashion, the same can be said for precious metals stocks. One way to think about it would be to say that the existence of a growing cryptocurrency market doesn’t change the value of precious metals.
Precious metals have long been known to be a safe-haven asset in times of market volatility and economic crisis. In fact, during the Covid-19 pandemic, gold prices surged about 30% breaking the $2,000 mark for the first time in its history. This was at a time when the prices of many cryptocurrencies were falling.
And precious metals have also been seen as a hedge against inflation, which seems like more of a certainty with the Federal Reserve’s pledge to keep interest rates at historically low rates into 2023.
Whether you’re looking to take your first steps at crafting a precious metals portfolio or if you want to fine-tune the one you have, we believe this special presentation is a good place to start your research. We’ve identified seven precious metals stocks that look to retain their allure in 2021.
View the "7 Precious Metals Stocks That Will Keep Your Portfolio On Trend"