Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.63, but opened at $6.15. Salzgitter shares last traded at $6.15, with a volume of 900 shares trading hands.

Analyst Upgrades and Downgrades

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

Salzgitter Price Performance

The company has a market cap of $3.33 billion, a P/E ratio of 68.33 and a beta of 1.67. The stock has a fifty day moving average price of $6.18 and a two-hundred day moving average price of $5.77.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion. Equities analysts predict that Salzgitter AG will post 0.37 earnings per share for the current fiscal year.

Salzgitter Company Profile

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.