Salzgitter AG (OTCMKTS:SZGPY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Salzgitter AG (OTCMKTS:SZGPY) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company.

A number of analysts have weighed in on SZGPY shares. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st.

Salzgitter Price Performance

Shares of SZGPY opened at $7.10 on Wednesday. The company has a market cap of $3.84 billion, a PE ratio of 78.89 and a beta of 1.65. The business has a fifty day moving average of $6.00 and a 200 day moving average of $5.49. Salzgitter has a 52-week low of $2.09 and a 52-week high of $7.99.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.53 billion.

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.