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

Salzgitter AG (OTCMKTS:SZGPY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.63, but opened at $6.15. Salzgitter shares last traded at $6.15, with a volume of 900 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SZGPY shares. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Zacks Research raised Salzgitter to a “hold” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Trading Up 9.2%

The company has a market cap of $3.33 billion, a P/E ratio of 68.33 and a beta of 1.67. The business’s fifty day moving average is $6.18 and its 200 day moving average is $5.77.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. As a group, research analysts expect that Salzgitter AG will post 0.37 EPS 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.