SSAB (OTCMKTS:SSAAY) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

SSAB (OTCMKTS:SSAAY) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01), Zacks reports.

SSAB Price Performance

SSAAY stock remained flat at $4.99 during midday trading on Wednesday. 40 shares of the company’s stock were exchanged. SSAB has a 12 month low of $3.04 and a 12 month high of $5.74. The company’s 50-day moving average price is $5.35 and its 200 day moving average price is $4.82.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SSAAY shares. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research report on Tuesday, July 28th. Citigroup restated a “buy” rating on shares of SSAB in a research note on Tuesday, September 15th. Dnb Carnegie lowered shares of SSAB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SSAB has a consensus rating of “Moderate Buy”.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.