Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Time to Sell?

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $5.25, but opened at $4.94. Salzgitter shares last traded at $4.94, with a volume of 594 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SZGPY. Zacks Research upgraded Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Jefferies Financial Group upgraded 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 report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Stock Down 7.4%

The business’s 50-day simple moving average is $6.12 and its two-hundred day simple moving average is $5.90. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 41.17 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last posted its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. On average, analysts expect that Salzgitter AG will post 0.22 earnings per share for the current year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.