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

Salzgitter AG (OTCMKTS:SZGPY) gapped up prior to trading on Friday . The stock had previously closed at $5.37, but opened at $6.12. Salzgitter shares last traded at $6.14, with a volume of 3,455 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SZGPY. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Finally, UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Salzgitter presently has an average rating of “Hold”.

Salzgitter Stock Performance

The company has a market cap of $3.32 billion, a PE ratio of -15.32 and a beta of 1.41. The stock has a fifty day moving average of $5.04 and a 200-day moving average of $3.69.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. As a group, equities analysts anticipate that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

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.