SSAB (OTCMKTS:SSAAY) Issues Quarterly Earnings Results

SSAB (OTCMKTS:SSAAY) issued its earnings results on Wednesday. The basic materials company reported $0.11 EPS for the quarter, Zacks reports. SSAB had a return on equity of 8.13% and a net margin of 5.59%.

SSAB Stock Performance

SSAAY opened at $5.14 on Wednesday. SSAB has a 12-month low of $2.80 and a 12-month high of $5.33. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 17.72 and a beta of 1.43. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $5.00 and its 200 day moving average is $4.52.

Analysts Set New Price Targets

SSAAY has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a report on Monday, June 29th. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, SSAB currently has a consensus rating of “Moderate Buy”.

About SSAB

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.