Salzgitter (OTCMKTS:SZGPY) Sets New 52-Week High – Here’s Why

Shares of Salzgitter AG (OTCMKTS:SZGPY) reached a new 52-week high on Friday . The stock traded as high as $4.49 and last traded at $4.49, with a volume of 8000 shares. The stock had previously closed at $4.16.

Analyst Upgrades and Downgrades

SZGPY has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research report on Monday, November 17th. Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. BNP Paribas upgraded shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Salzgitter currently has a consensus rating of “Hold”.

Salzgitter Stock Up 7.9%

The stock has a market capitalization of $2.43 billion, a P/E ratio of -11.22 and a beta of 1.47. The firm’s 50-day simple moving average is $3.45 and its 200 day simple moving average is $2.85.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.39%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. As a group, equities analysts anticipate that Salzgitter AG will post -0.68 EPS for the current fiscal year.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.