Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase on Better-Than-Expected Earnings

Shares of Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Monday following a stronger than expected earnings report. Approximately 8,075 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 5,873 shares.The stock last traded at $3.37 and had previously closed at $3.23.

The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Salzgitter Trading Up 4.3%

The firm’s 50-day moving average price is $3.06 and its two-hundred day moving average price is $2.69. The stock has a market cap of $1.82 billion, a PE ratio of -3.92 and a beta of 1.50.

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.