Salzgitter (OTCMKTS:SZGPY) Hits New 52-Week High – Time to Buy?

Salzgitter AG (OTCMKTS:SZGPY) hit a new 52-week high during trading on Thursday . The stock traded as high as $6.00 and last traded at $6.00, with a volume of 938 shares trading hands. The stock had previously closed at $5.37.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SZGPY. Oddo Bhf upgraded shares of Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. UBS Group downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Salzgitter Price Performance

The company has a market cap of $3.32 billion, a P/E ratio of -15.32 and a beta of 1.41. The stock has a 50-day moving average of $5.07 and a 200 day moving average of $3.72.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative return on equity of 4.31% and a negative net margin of 2.09%.The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.64 billion. Sell-side analysts predict that Salzgitter AG will post -0.68 EPS for the current year.

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.