Salzgitter (OTCMKTS:SZGPY) Reaches New 12-Month High – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.88 and last traded at $5.88, with a volume of 472 shares changing hands. The stock had previously closed at $5.3750.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, December 8th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research note on Friday, December 5th. Finally, Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Salzgitter Stock Performance

The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -14.60 and a beta of 1.38. The firm’s 50 day simple moving average is $4.25 and its 200-day simple moving average is $3.34.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. As a group, equities analysts anticipate that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

Salzgitter Company Profile

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.