SSAB (OTCMKTS:SSAAY) Issues Earnings Results

SSAB (OTCMKTS:SSAAY) released its quarterly earnings results on Tuesday. The basic materials company reported $0.09 earnings per share for the quarter, Zacks reports. SSAB had a return on equity of 7.29% and a net margin of 5.10%.The business had revenue of $2.77 billion for the quarter.

SSAB Stock Down 1.8%

Shares of OTCMKTS:SSAAY opened at $4.53 on Thursday. The stock’s 50-day moving average price is $4.26 and its 200-day moving average price is $3.91. SSAB has a 12-month low of $2.80 and a 12-month high of $4.61. The stock has a market capitalization of $9.03 billion, a P/E ratio of 18.11 and a beta of 1.36. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SSAAY. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Monday, April 13th. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, SSAB has a consensus rating of “Moderate Buy”.

About SSAB

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.