Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.25, but opened at $6.72. Salzgitter shares last traded at $6.72, with a volume of 519 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on SZGPY. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. UBS Group cut Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Salzgitter has an average rating of “Hold”.

Salzgitter Stock Up 1.5%

The stock has a fifty day moving average of $5.21 and a two-hundred day moving average of $3.80. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -16.75 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. The company 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%. Equities research analysts anticipate 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.