Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Here’s Why

Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Thursday . The stock had previously closed at $4.95, but opened at $5.88. Salzgitter shares last traded at $5.88, with a volume of 173 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SZGPY shares. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 65.33 and a beta of 1.72. The company has a fifty day moving average price of $6.16 and a 200-day moving average price of $5.66.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.53 billion.

About Salzgitter

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.