Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.75, but opened at $5.90. Salzgitter shares last traded at $6.01, with a volume of 509 shares changing hands.

Wall Street Analyst Weigh In

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

Salzgitter Stock Performance

The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 50.08 and a beta of 1.70. The business’s fifty day simple moving average is $6.19 and its 200 day simple moving average is $5.86.

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

About Salzgitter

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.