Acerinox (OTCMKTS:ANIOY) Reaches New 12-Month High – What’s Next?

Acerinox (OTCMKTS:ANIOYGet Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.68 and last traded at $6.68, with a volume of 105 shares trading hands. The stock had previously closed at $6.67.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Acerinox in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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Acerinox Stock Performance

The business has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $5.94.

Acerinox (OTCMKTS:ANIOYGet Free Report) last released its earnings results on Thursday, July 24th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.20). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Acerinox had a net margin of 1.59% and a return on equity of 3.54%. As a group, analysts expect that Acerinox will post 0.48 EPS for the current fiscal year.

Acerinox Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 4th. Shareholders of record on Friday, July 18th were paid a $0.1085 dividend. The ex-dividend date was Thursday, July 17th. This represents a yield of 321.0%. This is a boost from Acerinox’s previous dividend of $0.10. Acerinox’s dividend payout ratio (DPR) is currently 115.79%.

About Acerinox

(Get Free Report)

Acerinox, SA, together with its subsidiaries, manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally. It operates through Stainless steel, and High-performance Alloys segments. The company offers flat products, including hot and cold rolled coils and sheets, strips, flat bars, and discs, as well as engraved coil and sheet, black coil, slabs, circles, billets, and plates.

Further Reading

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