Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Monday . The stock had previously closed at $6.00, but opened at $5.82. Salzgitter shares last traded at $5.77, with a volume of 1,521 shares.

Wall Street Analyst Weigh In

SZGPY has been the topic of several research reports. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Morgan Stanley raised Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Salzgitter Trading Up 3.7%

The firm’s fifty day simple moving average is $6.19 and its 200 day simple moving average is $5.86. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 49.67 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last issued its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a return on equity of 1.30% and a net margin of 0.65%.The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.42 billion. As a group, sell-side analysts expect that Salzgitter AG will post 0.22 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.