Salzgitter (OTCMKTS:SZGPY) Stock Rating Upgraded by Zacks Research

Salzgitter (OTCMKTS:SZGPY) was upgraded by analysts at Zacks Research to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

SZGPY opened at $6.32 on Thursday. Salzgitter has a one year low of $2.25 and a one year high of $7.99. The company has a market cap of $3.42 billion, a P/E ratio of 70.22 and a beta of 1.72. The business’s 50-day simple moving average is $6.25 and its 200-day simple moving average is $5.70.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.53 billion. As a group, analysts predict that Salzgitter will post 0.37 earnings per share for the current fiscal year.

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.