Salzgitter AG (OTCMKTS:SZGPY) Given Average Rating of “Moderate Buy” by Brokerages

Salzgitter AG (OTCMKTS:SZGPY) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company.

A number of research analysts have recently commented on the company. Zacks Research upgraded Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th.

Salzgitter Price Performance

Shares of OTCMKTS:SZGPY opened at $5.63 on Thursday. The company has a market capitalization of $3.05 billion, a P/E ratio of 62.56 and a beta of 1.72. Salzgitter has a 1-year low of $2.25 and a 1-year high of $7.99. The firm’s 50 day simple moving average is $6.21 and its two-hundred day simple moving average is $5.77.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data 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 1.00% and a net margin of 0.49%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. On average, sell-side analysts anticipate that Salzgitter will post 0.37 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.