Zacks Investment Research Downgrades Outokumpu Oyj (OTCMKTS:OUTKY) to Hold

Thursday, April 8, 2021 | MarketBeat

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.

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Analyst Recommendations for Outokumpu Oyj (OTCMKTS:OUTKY)

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