Salzgitter (OTCMKTS:SZGPY) Hits New 12-Month High – Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.88 and last traded at $5.88, with a volume of 472 shares trading hands. The stock had previously closed at $5.3750.

Analyst Upgrades and Downgrades

SZGPY has been the topic of several research reports. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Friday, December 5th. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. UBS Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, December 8th. Finally, Zacks Research raised Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Salzgitter has a consensus rating of “Hold”.

Salzgitter Trading Down 4.3%

The company’s 50-day simple moving average is $4.40 and its 200 day simple moving average is $3.39. The stock has a market cap of $3.16 billion, a P/E ratio of -13.97 and a beta of 1.38.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%. Research analysts anticipate that Salzgitter AG will post -0.68 earnings per share 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.