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

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Monday . The stock had previously closed at $5.87, but opened at $6.4975. Salzgitter shares last traded at $6.11, with a volume of 8,823 shares.

Analyst Upgrades and Downgrades

SZGPY has been the topic of a number of research analyst reports. Zacks Research raised Salzgitter to a “hold” rating in a report on Thursday, July 16th. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a market capitalization of $3.30 billion, a PE ratio of 67.89 and a beta of 1.72. The business’s 50 day simple moving average is $6.23 and its two-hundred day simple moving average is $5.77.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.53 billion. As a group, equities research analysts anticipate that Salzgitter AG will post 0.37 earnings per share 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.