Salzgitter (OTCMKTS:SZGPY) Raised to Hold at Zacks Research

Salzgitter (OTCMKTS:SZGPY) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also commented on SZGPY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

SZGPY opened at $6.32 on Thursday. The stock has a market cap of $3.42 billion, a P/E ratio of 70.22 and a beta of 1.72. Salzgitter has a 1-year low of $2.25 and a 1-year high of $7.99. The stock’s 50 day simple moving average is $6.25 and its 200 day simple moving average is $5.70.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion. Research analysts expect that Salzgitter will post 0.37 EPS for the current fiscal year.

Salzgitter Company Profile

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.