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

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Tuesday. The stock had previously closed at $4.87, but opened at $5.3150. Salzgitter shares last traded at $5.3150, with a volume of 1,084 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SZGPY shares. UBS Group upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Friday, October 9th. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research raised shares of Salzgitter to a “hold” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Salzgitter Price Performance

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 44.42 and a beta of 1.70. The business’s fifty day moving average price is $6.05 and its 200-day moving average price is $5.93.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.15). The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. Equities research analysts predict that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.