SSAB (OTCMKTS:SSAAY) Sees Strong Trading Volume – Still a Buy?

Shares of SSAB (OTCMKTS:SSAAY) saw an uptick in trading volume on Wednesday . 2,001 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 1,809 shares.The stock last traded at $4.61 and had previously closed at $4.3501.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SSAAY. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Monday, April 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, SSAB presently has an average rating of “Moderate Buy”.

SSAB Price Performance

The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 18.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The business has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $3.87.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. Equities research analysts expect that SSAB will post 0.42 earnings per share for the current year.

SSAB Company Profile

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.