Salzgitter (OTCMKTS:SZGPY) Issues Quarterly Earnings Results

Salzgitter (OTCMKTS:SZGPY) issued its earnings results on Tuesday. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15), Zacks reports. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.

Salzgitter Price Performance

Shares of Salzgitter stock opened at $6.30 on Wednesday. The firm has a market cap of $3.41 billion, a PE ratio of 70.00 and a beta of 1.68. Salzgitter has a 1 year low of $2.25 and a 1 year high of $7.99. The stock has a fifty day moving average price of $6.11 and a 200-day moving average price of $5.81.

Wall Street Analyst Weigh In

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

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.