Salzgitter (OTCMKTS:SZGPY) Stock Price Up 26.6% Following Strong Earnings

Salzgitter AG (OTCMKTS:SZGPY)’s stock price was up 26.6% on Wednesday following a stronger than expected earnings report. The stock traded as high as $6.52 and last traded at $6.52. Approximately 1,294 shares were traded during trading, a decline of 54% from the average daily volume of 2,787 shares. The stock had previously closed at $5.15.

The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.08 by $0.09. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a negative net margin of 0.78% and a negative return on equity of 1.60%.

Analysts Set New Price Targets

Several analysts have recently commented on SZGPY shares. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Thursday, January 22nd. UBS Group downgraded shares of Salzgitter from a “buy” rating to a “hold” rating in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Thursday, February 5th. Finally, Oddo Bhf raised shares of Salzgitter from an “underperform” rating to an “outperform” rating in a report on Monday, January 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Salzgitter Price Performance

The stock’s fifty day moving average is $5.16 and its 200-day moving average is $4.92. The stock has a market capitalization of $3.53 billion, a PE ratio of -43.46 and a beta of 1.56.

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.