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

Salzgitter AG (OTCMKTS:SZGPY) shares gapped up prior to trading on Friday . The stock had previously closed at $4.7450, but opened at $4.9855. Salzgitter shares last traded at $4.9855, with a volume of 800 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SZGPY shares. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Friday, December 5th. UBS Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, December 8th. Deutsche Bank Aktiengesellschaft raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Salzgitter Stock Up 5.1%

The stock has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $3.01. The company has a market cap of $2.70 billion, a PE ratio of -12.46 and a beta of 1.47.

Salzgitter (OTCMKTS:SZGPY) last announced 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. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. As a group, research analysts anticipate that Salzgitter AG will post -0.68 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.