Salzgitter (OTCMKTS:SZGPY) Stock Price Down 13.9% – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY)’s stock price was down 13.9% on Friday . The stock traded as low as $5.80 and last traded at $5.80. Approximately 656 shares traded hands during trading, a decline of 74% from the average session volume of 2,491 shares. The stock had previously closed at $6.74.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 51.50 and a beta of 1.70. The company has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $5.86.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results 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 company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. On average, equities analysts expect that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.