Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $6.00, but opened at $5.82. Salzgitter shares last traded at $5.77, with a volume of 1,521 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research upgraded Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Finally, Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Salzgitter presently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The company’s fifty day simple moving average is $6.19 and its two-hundred day simple moving average is $5.86. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 48.08 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. Sell-side analysts anticipate that Salzgitter AG will post 0.22 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.