Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.2850, but opened at $3.42. Salzgitter shares last traded at $3.44, with a volume of 9,550 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SZGPY shares. BNP Paribas raised Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Monday, November 17th. Finally, Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Salzgitter Stock Up 5.3%

The stock has a fifty day moving average of $3.24 and a 200-day moving average of $2.76. The firm has a market capitalization of $1.87 billion, a P/E ratio of -4.02 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.64 billion. As a group, analysts forecast that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.