Dnb Carnegie Upgrades SSAB (OTCMKTS:SSAAY) to “Strong-Buy”

SSAB (OTCMKTS:SSAAY) was upgraded by equities research analysts at Dnb Carnegie from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

A number of other research firms have also issued reports on SSAAY. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Tuesday, September 15th. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, SSAB presently has a consensus rating of “Buy”.

SSAB Stock Down 0.7%

Shares of SSAB stock opened at $4.95 on Thursday. SSAB has a 1-year low of $3.04 and a 1-year high of $5.74. The business’s fifty day moving average price is $5.32 and its two-hundred day moving average price is $4.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.43 and a quick ratio of 1.37. The company has a market capitalization of $9.87 billion, a P/E ratio of 16.50 and a beta of 1.40.

SSAB (OTCMKTS:SSAAY) last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). SSAB had a net margin of 5.65% and a return on equity of 8.19%. The firm had revenue of $2.66 billion during the quarter. As a group, research analysts forecast that SSAB will post 0.39 EPS for the current year.

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.