Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Still a Buy?

by · The Cerbat Gem

Salzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.30, but opened at $4.58. Salzgitter shares last traded at $4.57, with a volume of 13,259 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SZGPY. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. UBS Group upgraded shares of Salzgitter to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Tuesday, November 25th. BNP Paribas raised Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Finally, Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Salzgitter currently has an average rating of “Hold”.

Read Our Latest Analysis on SZGPY

Salzgitter Trading Up 6.3%

The business has a 50-day moving average of $3.48 and a 200 day moving average of $2.87. The firm has a market capitalization of $2.47 billion, a P/E ratio of -11.42 and a beta of 1.46.

Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.39% and a negative net margin of 2.09%.The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, research analysts forecast that Salzgitter AG will post -0.68 EPS for the current year.

About Salzgitter

(Get Free Report)

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.

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