Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $6.15, but opened at $5.69. Salzgitter shares last traded at $5.69, with a volume of 191 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on SZGPY. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Zacks Research raised Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Salzgitter currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Down 9.7%

The stock has a market cap of $3.08 billion, a PE ratio of 47.42 and a beta of 1.68. The firm has a fifty day moving average of $6.02 and a 200 day moving average of $5.82.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. On average, equities research analysts forecast that Salzgitter AG will post 0.37 EPS 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.