Salzgitter (OTCMKTS:SZGPY) Trading Up 11.1% – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY)’s stock price was up 11.1% during mid-day trading on Wednesday . The company traded as high as $3.9450 and last traded at $3.9450. Approximately 8,281 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 6,561 shares. The stock had previously closed at $3.55.

Analysts Set New Price Targets

SZGPY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, BNP Paribas raised shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Price Performance

The firm has a market capitalization of $2.08 billion, a PE ratio of -4.48 and a beta of 1.50. The company’s fifty day simple moving average is $3.30 and its 200 day simple moving average is $2.78.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. On average, analysts anticipate that Salzgitter AG will post -0.68 earnings per share 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.