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

SSAB (OTCMKTS:SSAAY) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), Zacks reports. 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.

SSAB Price Performance

Shares of SSAAY remained flat at $4.95 during midday trading on Friday. 165 shares of the stock traded hands, compared to its average volume of 520. The stock has a market cap of $9.87 billion, a PE ratio of 16.50 and a beta of 1.40. SSAB has a one year low of $3.04 and a one year high of $5.74. The firm has a 50 day moving average price of $5.32 and a 200 day moving average price of $4.83. The company has a current ratio of 2.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of SSAB in a research note on Tuesday, July 28th. Dnb Carnegie raised SSAB from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Citigroup restated a “buy” rating on shares of SSAB in a report on Tuesday, September 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

About SSAB

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.