Salzgitter (OTCMKTS:SZGPY) Hits New 1-Year High – Here’s Why

by · The Cerbat Gem

Salzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.88 and last traded at $5.88, with a volume of 472 shares. The stock had previously closed at $5.3750.

Analyst Upgrades and Downgrades

SZGPY has been the subject of several research analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Friday, December 5th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, December 8th. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Salzgitter presently has a consensus rating of “Hold”.

Get Our Latest Stock Analysis on Salzgitter

Salzgitter Stock Up 8.7%

The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -14.60 and a beta of 1.38. The company’s 50-day moving average is $4.25 and its 200-day moving average is $3.34.

Salzgitter (OTCMKTS:SZGPY – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, beating 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 company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, research analysts forecast that Salzgitter AG will post -0.68 earnings per share for the current year.

About Salzgitter

(Get Free Report)

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.

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