Salzgitter (OTCMKTS:SZGPY) Stock Price Up 13.1% – Time to Buy?
by Tristan Rich · The Markets DailySalzgitter AG (OTCMKTS:SZGPY – Get Free Report)’s share price traded up 13.1% on Thursday . The company traded as high as $6.74 and last traded at $6.74. Approximately 134 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,516 shares. The stock had previously closed at $5.96.
Wall Street Analysts Forecast Growth
SZGPY has been the subject of several research analyst reports. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.
View Our Latest Report on SZGPY
Salzgitter Stock Up 13.1%
The company has a market cap of $3.65 billion, a price-to-earnings ratio of 56.17 and a beta of 1.70. The firm has a 50 day moving average price of $6.17 and a two-hundred day moving average price of $5.86.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a return on equity of 1.30% and a net margin of 0.65%.The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. On average, equities analysts expect that Salzgitter AG will post 0.22 earnings per share for the current year.
Salzgitter Company Profile
Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.
The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.