Salzgitter (OTCMKTS:SZGPY) Sets New 52-Week High – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.41 and last traded at $6.25, with a volume of 30699 shares. The stock had previously closed at $6.10.

Wall Street Analyst Weigh In

A number of analysts have commented on SZGPY shares. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. UBS Group downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Salzgitter Trading Up 2.5%

The company has a market cap of $3.38 billion, a PE ratio of -15.62 and a beta of 1.41. The business’s 50 day moving average is $5.16 and its two-hundred day moving average is $3.78.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.14. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. As a group, equities research analysts predict 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.