Salzgitter (OTCMKTS:SZGPY) Stock Price Up 19.7% – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) rose 19.7% on Wednesday . The stock traded as high as $5.22 and last traded at $5.22. Approximately 120 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 3,126 shares. The stock had previously closed at $4.36.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of several recent analyst reports. Citigroup reissued a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. Oddo Bhf raised Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Morgan Stanley reissued an “underweight” rating on shares of Salzgitter in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Salzgitter Price Performance

The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -34.80 and a beta of 1.54. The stock has a fifty day moving average of $5.46 and a 200 day moving average of $4.57.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Thursday, March 19th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.61%. The company had revenue of $2.46 billion during the quarter. As a group, equities analysts expect that Salzgitter AG will post -0.68 earnings per share for the current fiscal 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.