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

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.87, but opened at $6.4975. Salzgitter shares last traded at $6.11, with a volume of 8,823 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on SZGPY shares. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 67.89 and a beta of 1.72. The stock has a 50-day moving average of $6.24 and a 200 day moving average of $5.76.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. Sell-side analysts anticipate that Salzgitter AG will post 0.37 earnings per share 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.