Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) shares saw unusually-strong trading volume on Friday . Approximately 13,001 shares changed hands during mid-day trading, an increase of 395% from the previous session’s volume of 2,625 shares.The stock last traded at $7.13 and had previously closed at $6.74.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SZGPY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Wednesday, May 13th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Salzgitter Stock Performance

The company has a market cap of $3.86 billion, a price-to-earnings ratio of 79.22 and a beta of 1.56. The company has a fifty day moving average of $5.39 and a two-hundred day moving average of $5.19.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.02% and a net margin of 0.49%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. Equities analysts expect that Salzgitter AG will post 0.2 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.