Salzgitter (OTCMKTS:SZGPY) Stock Price Up 26.6% Following Strong Earnings

Salzgitter AG (OTCMKTS:SZGPY)’s stock price was up 26.6% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $6.52 and last traded at $6.52. Approximately 1,294 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,787 shares. The stock had previously closed at $5.15.

The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.60%.

Analyst Ratings Changes

Several research firms have weighed in on SZGPY. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Citigroup reissued a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. UBS Group downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Trading Up 12.4%

The firm’s fifty day moving average price is $5.16 and its 200 day moving average price is $4.92. The firm has a market capitalization of $3.53 billion, a PE ratio of -43.46 and a beta of 1.56.

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.