Salzgitter (OTCMKTS:SZGPY) Shares Down 7% – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) were down 7% during mid-day trading on Tuesday . The company traded as low as $4.27 and last traded at $4.27. Approximately 3,000 shares were traded during trading, an increase of 2% from the average daily volume of 2,930 shares. The stock had previously closed at $4.59.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Finally, Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Salzgitter presently has an average rating of “Hold”.

Salzgitter Price Performance

The stock has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $4.51. The company has a market cap of $2.36 billion, a P/E ratio of -29.06 and a beta of 1.54.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Thursday, March 19th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $2.46 billion for the quarter. Salzgitter had a negative return on equity of 1.61% and a negative net margin of 0.78%. Equities analysts predict that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

About Salzgitter

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.