Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?
by Tristan Rich · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $6.45, but opened at $6.10. Salzgitter shares last traded at $6.10, with a volume of 1,000 shares trading hands.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Zacks Research raised Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.
Read Our Latest Research Report on SZGPY
Salzgitter Trading Down 5.4%
The company has a market cap of $3.30 billion, a PE ratio of 67.78 and a beta of 1.72. The firm has a 50 day moving average of $6.27 and a two-hundred day moving average of $5.74.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, research analysts forecast that Salzgitter AG will post 0.37 EPS 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.