Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw unusually-strong trading volume on Tuesday . Approximately 6,000 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 6,537 shares.The stock last traded at $4.71 and had previously closed at $4.79.

Analyst Ratings Changes

A number of research analysts have commented on SZGPY shares. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. BNP Paribas upgraded Salzgitter to an “outperform” rating in a report on Friday, October 3rd. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, December 8th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Friday, December 5th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Monday, November 17th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Salzgitter Price Performance

The stock has a market cap of $2.54 billion, a PE ratio of -11.72 and a beta of 1.46. The business has a fifty day moving average of $3.89 and a 200 day moving average of $3.15.

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