Salzgitter (OTCMKTS:SZGPY) Sees Large Volume Increase – Still a Buy?

Salzgitter AG (OTCMKTS:SZGPY) saw unusually-high trading volume on Thursday . Approximately 5,523 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 2,955 shares.The stock last traded at $5.41 and had previously closed at $5.50.

Wall Street Analyst Weigh In

SZGPY has been the topic of several analyst reports. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. BNP Paribas Exane raised Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Tuesday, November 25th. UBS Group lowered Salzgitter from a “buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Salzgitter Stock Down 1.6%

The company has a 50 day moving average of $4.79 and a 200-day moving average of $3.58. The stock has a market capitalization of $2.93 billion, a P/E ratio of -13.52 and a beta of 1.38.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. Equities analysts forecast that Salzgitter AG will post -0.68 EPS for the current fiscal year.

About Salzgitter

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.