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

Key Points

• Outokumpu shares opened higher, rising from a prior close of $2.45 to $2.63, with 3,202 shares traded.
• Analyst sentiment remains cautious: one analyst rates the stock Buy and four rate it Hold, resulting in an overall “Hold” consensus.
• The company’s latest quarterly results missed expectations, reporting $0.03 in EPS versus $0.05 expected and revenue of $1.84 billion versus $1.97 billion projected.

Outokumpu (OTCMKTS:OUTKY - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $2.45, but opened at $2.63. Outokumpu shares last traded at $2.63, with a volume of 3,202 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup reissued a "neutral" rating on shares of Outokumpu in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Outokumpu in a report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Outokumpu Price Performance

The stock has a market cap of $2.49 billion, a PE ratio of -26.30 and a beta of 0.65. The company has a current ratio of 1.53, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $2.94 and its 200-day moving average is $3.05.

Outokumpu (OTCMKTS:OUTKY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.97 billion. Outokumpu had a negative net margin of 1.48% and a negative return on equity of 2.38%. As a group, sell-side analysts predict that Outokumpu will post 0.10 earnings per share for the current year.

Outokumpu Company Profile

Outokumpu Oyj is a Finland-based stainless steel manufacturer serving customers across Europe, the Americas and other international markets. The company produces stainless steel for applications in industries including construction, automotive, transportation, energy, food processing and industrial equipment.

Its product portfolio includes stainless steel coils, sheets, plates, strips and long products, along with specialized grades designed for demanding environments. Outokumpu also produces ferrochrome, an important raw material used in stainless steel manufacturing, and provides related technical, processing and customer support services.

Outokumpu traces its origins to 1910, when copper ore was discovered in Outokumpu, Finland.

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