SSAB AB (publ) (OTCMKTS:SSAAY) Downgraded by Zacks Investment Research to Hold
According to Zacks, “SSAB Svenskt Stal AB engages in the provision of steel and construction solutions. The company’s operating segment consists of SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. SSAB Special Steels segment provides marketing and sales of SSAB’s quenched and tempered steels. SSAB EMEA segment pertains to Europe, the Middle East and Africa. SSAB Americas segment refers to North and Latin America. SSAB APAC segment consists of Asia, Australia and New Zealand. Tibnor segment is the distribution of steel and metals. Ruukki Construction is engaged in the sales and production of energy-efficient building and construction solutions. It’s also operates in the Automotive, Construction Machinery, Material Handling and Heavy Transport segment. SSAB Svenskt Stal AB is headquartered in Stockholm, Sweden. “
SSAAY has been the topic of a number of other research reports. Credit Suisse Group reissued an outperform rating on shares of SSAB AB (publ) in a research note on Monday, February 1st. Morgan Stanley upgraded SSAB AB (publ) from an equal weight rating to an overweight rating in a report on Wednesday, March 24th. Deutsche Bank Aktiengesellschaft reiterated a hold rating on shares of SSAB AB (publ) in a report on Monday, February 1st. The Goldman Sachs Group began coverage on SSAB AB (publ) in a report on Monday, March 22nd. They issued a buy rating for the company. Finally, JPMorgan Chase & Co. reissued an underweight rating on shares of SSAB AB (publ) in a research report on Tuesday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $2.25.
SSAB AB (publ) (OTCMKTS:SSAAY) last posted its earnings results on Friday, January 29th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter. SSAB AB (publ) had a negative return on equity of 3.47% and a negative net margin of 3.25%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.80 billion. On average, research analysts predict that SSAB AB will post -0.05 earnings per share for the current year.
SSAB AB (publ) Company Profile
SSAB AB (publ) produces and sells steel products in the United States, Sweden, Finland, Germany, Denmark, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and hot-rolled advanced high-strength steel products.
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