Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.7450, but opened at $4.9855. Salzgitter shares last traded at $4.9855, with a volume of 800 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BNP Paribas raised Salzgitter to an “outperform” rating in a report on Friday, October 3rd. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, December 8th. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Salzgitter Trading Down 2.6%

The firm has a market capitalization of $2.51 billion, a P/E ratio of -11.60 and a beta of 1.47. The firm has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.03.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. On average, sell-side analysts anticipate that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.