Salzgitter (OTCMKTS:SZGPY) Stock Price Up 7.5% – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) were up 7.5% during mid-day trading on Monday. The company traded as high as $5.75 and last traded at $5.75. Approximately 100 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 2,747 shares. The stock had previously closed at $5.35.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SZGPY shares. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Salzgitter Stock Performance

The stock has a market cap of $3.11 billion, a P/E ratio of 47.92 and a beta of 1.74. The stock has a 50-day moving average price of $5.83 and a 200-day moving average price of $5.82.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.15). The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. Sell-side analysts forecast that Salzgitter AG will post 0.14 earnings per share for the current fiscal year.

Salzgitter Company Profile

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.