Salzgitter (OTCMKTS:SZGPY) Upgraded at Zacks Research

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

A number of other equities research analysts also recently issued reports on the company. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Salzgitter Stock Up 5.0%

Shares of SZGPY opened at $6.32 on Thursday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 70.22 and a beta of 1.72. Salzgitter has a 52-week low of $2.25 and a 52-week high of $7.99. The business’s 50 day moving average is $6.25 and its two-hundred day moving average is $5.70.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.53 billion. On average, equities analysts expect that Salzgitter will post 0.37 earnings per share for the current fiscal year.

About Salzgitter

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.