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

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Thursday. The stock had previously closed at $5.3450, but opened at $4.90. Salzgitter shares last traded at $4.8840, with a volume of 592 shares traded.

Analyst Upgrades and Downgrades

SZGPY has been the subject of several research reports. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Friday, October 9th. Zacks Research raised Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Jefferies Financial Group raised Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Salzgitter Stock Down 6.5%

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 40.83 and a beta of 1.70. The business’s fifty day moving average is $5.96 and its two-hundred day moving average is $5.96.

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 the consensus estimate of $0.06 by ($0.15). The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. As a group, sell-side analysts expect that Salzgitter AG will post 0.14 earnings per share for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.