Zacks Research Upgrades Salzgitter (OTCMKTS:SZGPY) to Hold

Salzgitter (OTCMKTS:SZGPY) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on SZGPY. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Salzgitter has an average rating of “Moderate Buy”.

Salzgitter Trading Up 5.0%

OTCMKTS:SZGPY opened at $6.32 on Thursday. Salzgitter has a 12-month low of $2.25 and a 12-month high of $7.99. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 70.22 and a beta of 1.72. The company’s 50-day moving average is $6.25 and its two-hundred day moving average is $5.70.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. On average, equities research analysts forecast that Salzgitter will post 0.37 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.