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

Shares of Salzgitter AG (OTCMKTS:SZGPY – Get 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:SZGPY – Get 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

(Get Rating)

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.