Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $3.49, but opened at $3.25. Salzgitter shares last traded at $3.20, with a volume of 2,368 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SZGPY shares. DZ Bank cut shares of Salzgitter from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Kepler Capital Markets raised shares of Salzgitter from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Oddo Bhf cut shares of Salzgitter to an “underperform” rating in a report on Tuesday, April 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Wednesday, March 26th.

Salzgitter Price Performance

The stock has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $2.23. The company has a market cap of $1.73 billion, a P/E ratio of -3.95 and a beta of 1.43.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share for the quarter. Salzgitter had a negative net margin of 4.16% and a negative return on equity of 8.78%. The business had revenue of $2.45 billion for the quarter. As a group, analysts forecast that Salzgitter AG will post -0.68 earnings per share for the current year.

Salzgitter Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 26th were paid a dividend of $0.0117 per share. The ex-dividend date was Friday, May 23rd. This represents a dividend yield of 0.52%. Salzgitter’s dividend payout ratio is presently -1.23%.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.