SSAB (OTCMKTS:SSAAY) Hits New 1-Year High – Still a Buy?

SSAB (OTCMKTS:SSAAY)’s share price hit a new 52-week high on Tuesday . The company traded as high as $3.70 and last traded at $3.70, with a volume of 2185 shares traded. The stock had previously closed at $3.68.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SSAAY. Citigroup reissued a “buy” rating on shares of SSAB in a research note on Friday. Danske upgraded SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, SSAB currently has an average rating of “Moderate Buy”.

SSAB Trading Up 0.5%

The company has a market capitalization of $7.37 billion, a P/E ratio of 14.80 and a beta of 1.33. The business has a fifty day moving average of $3.35 and a 200-day moving average of $3.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.30 and a current ratio of 2.38.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, October 22nd. The basic materials company reported $0.08 earnings per share for the quarter. The firm had revenue of $2.41 billion for the quarter. SSAB had a net margin of 5.17% and a return on equity of 7.33%. Analysts anticipate that SSAB will post 0.24 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.