Salzgitter (OTCMKTS:SZGPY) Shares Up 9.8% – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) was up 9.8% on Wednesday . The company traded as high as $3.78 and last traded at $3.7337. Approximately 8,755 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 6,449 shares. The stock had previously closed at $3.40.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SZGPY shares. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Monday. Finally, Zacks Research upgraded 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Salzgitter has an average rating of “Hold”.

Salzgitter Price Performance

The company has a market cap of $1.84 billion, a PE ratio of -3.95 and a beta of 1.50. The firm has a 50 day simple moving average of $3.20 and a 200-day simple moving average of $2.74.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, beating 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%.The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.64 billion. As a group, equities analysts anticipate that Salzgitter AG will post -0.68 EPS for the current year.

About Salzgitter

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.