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

Salzgitter AG (OTCMKTS:SZGPY) shares gapped down before the market opened on Friday . The stock had previously closed at $6.15, but opened at $5.69. Salzgitter shares last traded at $5.69, with a volume of 191 shares.

Analyst Ratings Changes

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

Salzgitter Price Performance

The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 47.42 and a beta of 1.68. The stock has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $5.82.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). Salzgitter had a return on equity of 1.30% and a net margin of 0.65%.The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. Equities research analysts predict that Salzgitter AG will post 0.37 EPS for the current 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.