Salzgitter (OTCMKTS:SZGPY) Trading Down 7% – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) traded down 7% during trading on Tuesday . The company traded as low as $4.27 and last traded at $4.27. 3,000 shares were traded during mid-day trading, an increase of 2% from the average session volume of 2,930 shares. The stock had previously closed at $4.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SZGPY shares. UBS Group cut shares of Salzgitter from a “buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Salzgitter Stock Up 6.5%

The business’s fifty day moving average is $5.60 and its two-hundred day moving average is $4.50. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -28.20 and a beta of 1.36.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Thursday, March 19th. The basic materials company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. The business had revenue of $2.46 billion during the quarter. As a group, sell-side analysts expect that Salzgitter AG will post -0.68 earnings per share for the current 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.