Salzgitter (OTCMKTS:SZGPY) Stock Falls 13.9% – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s stock price dropped 13.9% during mid-day trading on Monday. The stock traded as low as $5.25 and last traded at $5.25. 106 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,955 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research raised shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. 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 reiterated a “buy” rating on shares of Salzgitter in a research report on Friday, September 4th. Four investment 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.com, Salzgitter currently has an average rating of “Moderate Buy”.

Salzgitter Trading Up 2.2%

The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 43.75 and a beta of 1.70. The firm’s 50-day moving average is $6.16 and its two-hundred day moving average is $5.89.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly 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 1.29%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. On average, analysts predict that Salzgitter AG will post 0.22 earnings per share for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.