Salzgitter (OTCMKTS:SZGPY) Upgraded at Zacks Research

Zacks Research upgraded shares of Salzgitter (OTCMKTS:SZGPY) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. BNP Paribas upgraded Salzgitter to an “outperform” rating in a report on Friday, October 3rd. DZ Bank cut Salzgitter from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Salzgitter presently has a consensus rating of “Hold”.

Salzgitter Stock Down 10.4%

SZGPY opened at $3.26 on Monday. The business has a fifty day moving average of $2.84 and a 200 day moving average of $2.60. Salzgitter has a 52-week low of $1.40 and a 52-week high of $4.09. The stock has a market cap of $1.76 billion, a P/E ratio of -3.79 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Equities analysts anticipate that Salzgitter will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

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.