Brokerages Set Salzgitter AG (OTCMKTS:SZGPY) Target Price at $36.87

Shares of Salzgitter AG (OTCMKTS:SZGPYGet Rating) have earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $36.87.

SZGPY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Salzgitter from €43.00 ($44.33) to €32.00 ($32.99) and set a “hold” rating on the stock in a research note on Thursday, July 14th. JPMorgan Chase & Co. downgraded Salzgitter from a “neutral” rating to an “underweight” rating in a report on Wednesday, June 22nd. Bank of America upgraded shares of Salzgitter from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 30th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, June 22nd. Finally, DZ Bank downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Friday, June 24th.

Salzgitter Stock Down 0.4 %

Shares of Salzgitter stock opened at $2.43 on Friday. Salzgitter has a 12-month low of $2.13 and a 12-month high of $5.16. The firm has a market cap of $1.46 billion, a PE ratio of 2.57 and a beta of 1.33. The company’s fifty day simple moving average is $2.85 and its two-hundred day simple moving average is $3.67.

Salzgitter (OTCMKTS:SZGPYGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.19 billion. Salzgitter had a return on equity of 25.29% and a net margin of 7.73%. As a group, sell-side analysts expect that Salzgitter will post 1.69 earnings per share for the current fiscal year.

Salzgitter Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 23rd. Stockholders of record on Monday, June 6th were issued a $0.0512 dividend. This represents a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, June 3rd.

Salzgitter Company Profile

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Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.

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Analyst Recommendations for Salzgitter (OTCMKTS:SZGPY)

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