Salzgitter (OTCMKTS:SZGPY) Hits New 1-Year High – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) reached a new 52-week high during trading on Wednesday . The company traded as high as $6.41 and last traded at $6.25, with a volume of 30699 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. UBS Group cut shares of Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Salzgitter Stock Up 1.5%

The firm has a market capitalization of $3.62 billion, a PE ratio of -16.75 and a beta of 1.41. The company’s 50-day simple moving average is $5.26 and its 200 day simple moving average is $3.82.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. On average, sell-side analysts forecast that Salzgitter AG will post -0.68 earnings per share for the current fiscal 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.