Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped down before the market opened on Thursday. The stock had previously closed at $5.25, but opened at $4.94. Salzgitter shares last traded at $4.94, with a volume of 594 shares traded.

Analyst Upgrades and Downgrades

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

Salzgitter Stock Up 12.3%

The stock has a fifty day moving average of $6.11 and a two-hundred day moving average of $5.90. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 45.58 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last issued 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 1.29% and a net margin of 0.65%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. On average, research analysts expect that Salzgitter AG will post 0.22 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.