SSAB (OTCMKTS:SSAAY) Issues Earnings Results, Misses Expectations By $0.01 EPS

SSAB (OTCMKTS:SSAAY) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01), Zacks reports.

SSAB Stock Performance

SSAB stock remained flat at $4.99 during trading hours on Wednesday. The company’s stock had a trading volume of 40 shares. SSAB has a 12 month low of $3.04 and a 12 month high of $5.74. The firm has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $4.82.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSAAY. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Dnb Carnegie lowered 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SSAB in a research report on Friday, September 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.