Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $7.99, but opened at $7.10. Salzgitter shares last traded at $7.09, with a volume of 790 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday. Finally, Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Down 9.1%

The stock has a market cap of $3.83 billion, a P/E ratio of 78.78 and a beta of 1.65. The business’s 50-day simple moving average is $5.68 and its two-hundred day simple moving average is $5.33.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.02%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.53 billion.

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.