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

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Thursday. The stock had previously closed at $5.3450, but opened at $4.90. Salzgitter shares last traded at $4.8840, with a volume of 592 shares changing hands.

Wall Street Analysts Forecast Growth

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

Salzgitter Price Performance

The firm has a 50-day simple moving average of $5.96 and a two-hundred day simple moving average of $5.96. The company has a market cap of $2.65 billion, a PE ratio of 40.83 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.29%. Equities research analysts forecast that Salzgitter AG will post 0.14 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.