SSAB (OTCMKTS:SSAAY) Announces Quarterly Earnings Results

SSAB (OTCMKTS:SSAAY) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, Zacks reports. SSAB had a return on equity of 8.13% and a net margin of 5.59%.

SSAB Price Performance

SSAAY opened at $5.14 on Thursday. SSAB has a 12-month low of $2.80 and a 12-month high of $5.33. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $5.01 and its 200-day simple moving average is $4.53. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 17.72 and a beta of 1.43.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research report on Tuesday, July 7th. Morgan Stanley reiterated an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About SSAB

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.