Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $6.70, but opened at $7.1050. Salzgitter shares last traded at $7.1050, with a volume of 170 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SZGPY. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Friday. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Finally, Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Salzgitter Trading Up 6.4%

The stock has a market capitalization of $3.89 billion, a P/E ratio of 60.00 and a beta of 1.70. The business’s fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $5.86.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. On average, equities research analysts anticipate that Salzgitter AG will post 0.22 earnings per share for the current 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.