Voestalpine (OTCMKTS:VLPNY) Shares Gap Down - Here's What Happened

Key Points

• Voestalpine AG shares gapped down from a previous close of $5.87 to open at $5.44, eventually trading at $5.40.
• Citigroup has reissued a "neutral" rating on Voestalpine shares, highlighting a cautious outlook amid an 8.0% decline in stock value.
• Voestalpine announced a dividend of $0.0724 per share, with a dividend yield of 1.3% and a payout ratio of 35.00%.

Voestalpine AG (OTCMKTS:VLPNY - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $5.87, but opened at $5.44. Voestalpine shares last traded at $5.40, with a volume of 1,000 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup reiterated a "neutral" rating on shares of Voestalpine in a report on Wednesday, June 11th.

Voestalpine Price Performance

The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 27.07 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.55 and a current ratio of 1.44. The company has a 50 day moving average of $5.36 and a 200 day moving average of $4.83.

Voestalpine (OTCMKTS:VLPNY - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter. Voestalpine had a net margin of 0.99% and a return on equity of 2.08%. The company had revenue of $4.21 billion during the quarter. As a group, equities research analysts anticipate that Voestalpine AG will post 0.45 EPS for the current year.

Voestalpine Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 30th. Investors of record on Monday, July 14th were issued a dividend of $0.0724 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a yield of 130.0%. Voestalpine's payout ratio is presently 35.00%.

Voestalpine Company Profile

Voestalpine AG processes, develops, manufactures, and sells steel products in Austria, European Union, and internationally. The company operates through five segments: Steel, High Performance Metals, Metal Engineering, Metal Forming, and Other. The Steel division produces hot and cold-rolled steel strips, as well as electrogalvanized, hot-dip galvanized, and organically coated steel strips; and heavy plates for the energy sector, as well as turbine casings for automotive, white goods/consumer goods, building/construction, energy, mechanical engineering, and others.