Salzgitter (OTCMKTS:SZGPY) Stock Falls 6.1% – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY)’s share price was down 6.1% during trading on Friday. The company traded as low as $4.92 and last traded at $4.92. 309 shares changed hands during trading, a decline of 89% from the average daily volume of 2,751 shares. The stock had previously closed at $5.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SZGPY shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Friday. Zacks Research raised Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Friday, October 9th. Finally, Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock has a market cap of $2.66 billion, a P/E ratio of 41.00 and a beta of 1.70. The firm has a 50 day simple moving average of $5.93 and a two-hundred day simple moving average of $5.97.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. As a group, equities research analysts predict that Salzgitter AG will post 0.14 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.