Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.50, but opened at $3.72. Salzgitter shares last traded at $3.95, with a volume of 300 shares changing hands.

Analysts Set New Price Targets

SZGPY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Thursday, February 5th. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. UBS Group lowered Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Finally, Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Salzgitter currently has a consensus rating of “Hold”.

Salzgitter Stock Performance

The stock has a market capitalization of $2.15 billion, a PE ratio of -26.46 and a beta of 1.36. The stock’s 50 day moving average is $5.63 and its two-hundred day moving average is $4.49.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Thursday, March 19th. The basic materials company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Salzgitter had a negative return on equity of 1.61% and a negative net margin of 0.78%.The firm had revenue of $2.46 billion for the quarter. Equities research analysts expect that Salzgitter AG will post -0.68 EPS 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.