SSAB (OTCMKTS:SSAAY) Shares Gap Up – What’s Next?

SSAB (OTCMKTS:SSAAY) shares gapped up before the market opened on Friday. The stock had previously closed at $5.08, but opened at $5.3098. SSAB shares last traded at $5.3098, with a volume of 205 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SSAAY shares. Dnb Carnegie downgraded SSAB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SSAB in a report on Friday, September 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

SSAB Stock Up 0.8%

The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 17.70 and a beta of 1.40. The firm’s 50-day moving average is $5.39 and its 200 day moving average is $5.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.11 EPS for the quarter. SSAB had a return on equity of 8.18% and a net margin of 5.73%. The company had revenue of $2.94 billion for the quarter. Sell-side analysts anticipate that SSAB will post 0.39 earnings per share for the current fiscal year.

About SSAB

SSAB AB is a Sweden-based steel company that develops and manufactures high-strength, specialty and conventional flat steel products. Its offerings include quenched and tempered steels, wear-resistant steels, automotive steels, structural steels and coated products used in construction, transportation, manufacturing, mining and other industrial applications.

The company markets products under brands including Hardox wear plate, Strenx performance steel, Docol automotive steel and GreenCoat color-coated products.