Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.70, but opened at $7.1050. Salzgitter shares last traded at $7.1050, with a volume of 170 shares.

Analyst Ratings Changes

SZGPY has been the topic of several research analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Zacks Research upgraded Salzgitter to a “hold” rating in a report on Thursday, July 16th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Friday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock’s fifty day moving average is $6.00 and its two-hundred day moving average is $5.86. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 60.00 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 analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a return on equity of 1.30% and a net margin of 0.65%. Sell-side analysts predict that Salzgitter AG will post 0.22 earnings per share 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.