Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Wednesday . The stock had previously closed at $6.70, but opened at $7.1050. Salzgitter shares last traded at $7.1050, with a volume of 170 shares trading hands.

Wall Street Analysts Forecast Growth

SZGPY has been the topic of a number of research reports. Citigroup reiterated 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 note on Monday, June 1st. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research upgraded Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Salzgitter presently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The company has a market cap of $3.70 billion, a price-to-earnings ratio of 57.00 and a beta of 1.70. The firm’s fifty day simple moving average is $6.08 and its 200 day simple moving average is $5.87.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. As a group, sell-side analysts expect that Salzgitter AG will post 0.22 EPS for the current 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.