Salzgitter (OTCMKTS:SZGPY) Reaches New 12-Month High – What’s Next?

Shares of Salzgitter AG (OTCMKTS:SZGPY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.00 and last traded at $6.00, with a volume of 938 shares changing hands. The stock had previously closed at $5.37.

Analyst Ratings Changes

Several analysts have recently weighed in on SZGPY shares. UBS Group lowered shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Salzgitter has a consensus rating of “Hold”.

Salzgitter Stock Performance

The stock has a 50-day moving average of $4.99 and a 200 day moving average of $3.68. The firm has a market capitalization of $3.25 billion, a P/E ratio of -15.00 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%.The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. On average, equities analysts predict that Salzgitter AG will post -0.68 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.