Salzgitter (OTCMKTS:SZGPY) Shares Down 6.1% – What’s Next?

Shares of Salzgitter AG (OTCMKTS:SZGPY) dropped 6.1% on Friday. The stock traded as low as $4.92 and last traded at $4.92. Approximately 309 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,751 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

A number of research firms have commented on SZGPY. UBS Group raised Salzgitter from a “hold” rating to a “buy” rating in a report on Friday, October 9th. Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Friday. Finally, Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 41.00 and a beta of 1.70. The firm has a fifty day simple moving average of $5.93 and a two-hundred day simple moving average of $5.97.

Salzgitter (OTCMKTS:SZGPY) last issued 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). Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Equities analysts anticipate that Salzgitter AG will post 0.14 earnings per share for the current fiscal year.

Salzgitter Company Profile

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.