SSAB (OTCMKTS:SSAAY) Shares Gap Up – Time to Buy?
by Danessa Lincoln · The Markets DailyShares of SSAB (OTCMKTS:SSAAY – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $3.8450, but opened at $4.20. SSAB shares last traded at $4.20, with a volume of 228 shares traded.
Analyst Upgrades and Downgrades
SSAAY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Thursday, January 29th. Citigroup reissued a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Get Our Latest Analysis on SSAB
SSAB Stock Up 5.0%
The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.37 billion, a P/E ratio of 16.80 and a beta of 1.36. The firm has a 50-day simple moving average of $4.21 and a two-hundred day simple moving average of $3.76.
SSAB (OTCMKTS:SSAAY – Get Free Report) last announced its earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). SSAB had a net margin of 5.10% and a return on equity of 7.29%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.76 billion. Equities research analysts expect that SSAB will post 0.24 earnings per share for the current fiscal year.
SSAB Company Profile
SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.
Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.