Salzgitter (OTCMKTS:SZGPY) Issues Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Salzgitter (OTCMKTS:SZGPY) released its earnings results on Thursday. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.23, Zacks reports. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%.

Salzgitter Price Performance

Shares of OTCMKTS:SZGPY remained flat at $5.68 during midday trading on Thursday. 228 shares of the stock were exchanged, compared to its average volume of 1,663. The business has a 50 day moving average price of $5.72 and a 200 day moving average price of $5.81. Salzgitter has a one year low of $3.07 and a one year high of $7.99. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 47.33 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SZGPY. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a report on Friday, October 9th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Friday, October 23rd. Finally, Deutsche Bank reissued a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Salzgitter presently has an average rating of “Moderate Buy”.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter. Its businesses include steel production, steel trading, tube manufacturing and technology, serving customers in industries such as automotive, construction, energy and manufacturing. The company produces a range of steel products, including flat and plate steel, and supplies tubes and pipes for industrial applications. Through its technology business, including KHS, Salzgitter also develops filling and packaging systems for the beverage and liquid-food industries.