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

Salzgitter AG (OTCMKTS:SZGPY) shares gapped down prior to trading on Monday . The stock had previously closed at $4.50, but opened at $3.72. Salzgitter shares last traded at $3.95, with a volume of 300 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SZGPY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Oddo Bhf upgraded Salzgitter from an “underperform” rating to an “outperform” rating in a research note on Monday, January 19th. UBS Group downgraded Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a research note on Tuesday, January 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Stock Performance

The company has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $4.49. The firm has a market cap of $2.15 billion, a PE ratio of -26.46 and a beta of 1.36.

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

Salzgitter Company Profile

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.