Salzgitter (OTCMKTS:SZGPY) Shares Climb 7.5% – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY)’s share price traded up 7.5% during mid-day trading on Monday. The company traded as high as $5.75 and last traded at $5.75. 100 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,747 shares. The stock had previously closed at $5.35.

Wall Street Analyst Weigh In

SZGPY has been the subject of a number of research reports. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research note on Friday, October 23rd. Finally, Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 45.58 and a beta of 1.74. The business has a fifty day simple moving average of $5.82 and a 200-day simple moving average of $5.81.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. On average, equities analysts anticipate that Salzgitter AG will post 0.14 earnings per share for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.