Salzgitter (OTCMKTS:SZGPY) Posts Earnings Results, Misses Expectations By $0.15 EPS

Salzgitter (OTCMKTS:SZGPY) announced its quarterly earnings data on Tuesday. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15), Zacks reports. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion.

Salzgitter Price Performance

Shares of SZGPY stock remained flat at $6.30 during trading hours on Thursday. 127 shares of the company were exchanged, compared to its average volume of 946. The company’s fifty day simple moving average is $6.08 and its 200-day simple moving average is $5.81. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 52.50 and a beta of 1.68. Salzgitter has a 1-year low of $2.25 and a 1-year high of $7.99.

Analyst Upgrades and Downgrades

SZGPY has been the topic of several research analyst reports. Zacks Research raised Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Finally, Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.