Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Should You Buy?
by Michael Walen · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $4.69, but opened at $5.24. Salzgitter shares last traded at $5.21, with a volume of 2,052 shares.
Analyst Upgrades and Downgrades
Several research firms have commented on SZGPY. Deutsche Bank Aktiengesellschaft raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, December 8th. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Friday, December 5th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.
Check Out Our Latest Research Report on SZGPY
Salzgitter Stock Up 2.3%
The stock has a market capitalization of $2.81 billion, a P/E ratio of -12.98 and a beta of 1.38. The stock’s 50 day moving average price is $4.02 and its 200-day moving average price is $3.22.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. Analysts anticipate 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.