Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?
by Amy Steele · The Cerbat GemShares of Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $5.84, but opened at $5.24. Salzgitter shares last traded at $5.24, with a volume of 171 shares.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on SZGPY shares. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Friday, December 5th. BNP Paribas raised Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Finally, Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.
Check Out Our Latest Stock Analysis on SZGPY
Salzgitter Stock Down 5.9%
The company has a 50-day moving average price of $4.30 and a two-hundred day moving average price of $3.36. The company has a market capitalization of $2.97 billion, a PE ratio of -13.73 and a beta of 1.38.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last issued its earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%.The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. As a group, equities 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.