Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Monday . The stock had previously closed at $6.00, but opened at $5.82. Salzgitter shares last traded at $5.77, with a volume of 1,521 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Salzgitter has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The firm has a fifty day moving average of $6.19 and a 200 day moving average of $5.86. The firm has a market capitalization of $3.12 billion, a PE ratio of 48.08 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last released 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 company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a return on equity of 1.30% and a net margin of 0.65%. Research analysts forecast that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.