Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw strong trading volume on Thursday . Approximately 6,000 shares changed hands during trading, an increase of 121% from the previous session’s volume of 2,718 shares.The stock last traded at $5.77 and had previously closed at $6.45.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Finally, Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock has a market cap of $3.12 billion, a PE ratio of 64.11 and a beta of 1.72. The firm’s 50-day moving average is $6.26 and its 200 day moving average is $5.75.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.09. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. On average, sell-side analysts predict that Salzgitter AG will post 0.37 EPS for the current fiscal year.

Salzgitter Company Profile

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.