Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Still a Buy?
by Tristan Rich · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report) saw strong trading volume on Tuesday . 6,000 shares changed hands during trading, a decline of 8% from the previous session’s volume of 6,537 shares.The stock last traded at $4.71 and had previously closed at $4.79.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on SZGPY shares. Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. BNP Paribas raised Salzgitter to an “outperform” rating in a report on Friday, October 3rd. UBS Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, December 8th. Finally, Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on SZGPY
Salzgitter Stock Down 1.3%
The business has a 50 day moving average price of $3.95 and a two-hundred day moving average price of $3.17. The stock has a market cap of $2.54 billion, a P/E ratio of -11.72 and a beta of 1.47.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last posted its quarterly 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. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. On average, research analysts forecast that Salzgitter AG will post -0.68 earnings per share for the current 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.