Outokumpu (OTCMKTS:OUTKY) Shares Gap Down - Here's What Happened

Key Points

• Outokumpu's shares gapped down from a previous closing price of $2.03 to $1.90 at the market open on Friday.
• The company's stock has seen a decline of 6.4% and currently has a market capitalization of $1.87 billion.
• Analysts have mixed opinions, with Citigroup maintaining a "neutral" rating while Barclays downgraded its rating to "strong sell."
• Outokumpu reported earnings of (\$0.02) per share, missing expected consensus estimates, despite revenue of $1.60 billion for the last quarter.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $2.03, but opened at $1.90. Outokumpu shares last traded at $1.90, with a volume of 200 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OUTKY. Citigroup reissued a "neutral" rating on shares of Outokumpu in a research note on Wednesday, July 16th. Barclays lowered Outokumpu from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 16th.

Outokumpu Stock Down 6.4%

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -47.50 and a beta of 0.55. The stock has a 50 day moving average of $1.93 and a 200 day moving average of $1.79. The company has a quick ratio of 0.63, a current ratio of 1.66 and a debt-to-equity ratio of 0.12.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Outokumpu had a negative net margin of 0.57% and a negative return on equity of 0.92%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, analysts expect that Outokumpu will post 0.07 earnings per share for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj produces and sells various stainless steel products in Finland, other European countries, North America, the Asia-Pacific, and internationally. The company operates through three segments: Europe, Americas, and Ferrochrome. It offers cold rolled coils, strips, and sheets; hot rolled coils, strips, and plates; quarto plates; precision strips; and specialized components, such as welded stainless-steel I-beams, H-beams, hollow-section tubes, bent profiles, structural sections, hardened and customized press plates, suction roll shells, and blancs and disks.

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