Salzgitter (OTCMKTS:SZGPY) Stock Price Up 19.7% – Still a Buy?
by Michael Walen · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s stock price rose 19.7% during mid-day trading on Wednesday . The stock traded as high as $5.22 and last traded at $5.22. Approximately 120 shares traded hands during trading, a decline of 96% from the average daily volume of 3,126 shares. The stock had previously closed at $4.36.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.
Get Our Latest Analysis on SZGPY
Salzgitter Price Performance
The stock has a market cap of $2.82 billion, a PE ratio of -34.80 and a beta of 1.54. The company has a fifty day moving average price of $5.45 and a 200 day moving average price of $4.58.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. The business had revenue of $2.46 billion for the quarter. As a group, research analysts predict that Salzgitter AG will post -0.68 earnings per share for the current 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.