Outokumpu (OTCMKTS:OUTKY) Shares Gap Up - Here's Why

Key Points

• Outokumpu shares gapped up about 9.4%, opening at $3.4466 versus the prior close of $3.0160 and last trading at $3.4466 on light volume.
• Analysts collectively have a consensus rating of Hold (1 Buy, 4 Hold, 1 Sell), with recent notes from Deutsche Bank, Citigroup and Jefferies maintaining neutral/hold views.
• The company beat the quarter's EPS estimate ($-0.08 vs. -0.13) on $1.35B revenue, but remains unprofitable with a negative net margin (-2.55%) and ROE (-4%), and a negative PE.

Shares of Outokumpu (OTCMKTS:OUTKY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $3.0160, but opened at $3.4466. Outokumpu shares last traded at $3.4466, with a volume of 362 shares traded.

Wall Street Analyst Weigh In

OUTKY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Outokumpu in a research note on Tuesday, April 14th. Citigroup reiterated a "neutral" rating on shares of Outokumpu in a research note on Friday, April 17th. Finally, Jefferies Financial Group downgraded Outokumpu from a "buy" rating to a "hold" rating in a research note on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold".

Outokumpu Trading Up 9.4%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 1.63. The company has a 50 day simple moving average of $3.03 and a two-hundred day simple moving average of $2.70. The firm has a market cap of $3.26 billion, a PE ratio of -21.54 and a beta of 0.62.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05. The business had revenue of $1.35 billion for the quarter. Outokumpu had a negative return on equity of 4.00% and a negative net margin of 2.55%. Analysts expect that Outokumpu will post 0.01 EPS for the current fiscal year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based global producer of stainless steel products and one of Europe's leading stainless steel manufacturers. Headquartered in Helsinki, the company traces its roots back to mining operations established in 1910 and has, over decades, transformed into a focused stainless steel specialist. Outokumpu's core business encompasses the production of high-grade stainless steel in flat and long product forms, serving a broad range of industries including automotive, construction, energy, and consumer goods.

The company's primary product portfolio includes cold-rolled and hot-rolled coils and sheets, plates, strips, bars and wire, as well as tailor-made and value-added solutions such as precision-cut blanks and welded tubes.

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