SSAB (OTCMKTS:SSAAY) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

SSAB (OTCMKTS:SSAAY) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01), Zacks reports.

SSAB Price Performance

SSAAY stock remained flat at $4.99 during midday trading on Wednesday. The company’s stock had a trading volume of 40 shares. SSAB has a one year low of $3.04 and a one year high of $5.74. The firm’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $4.82.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Tuesday, September 15th. Dnb Carnegie downgraded shares of SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Friday, September 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.