SSAB AB (publ) (OTCMKTS:SSAAY) Price Target Cut to SEK 49.60

SSAB AB (publ) (OTCMKTS:SSAAY) had its target price reduced by JPMorgan Chase & Co. from SEK 49.80 to SEK 49.60 in a report issued on Friday, The Fly reports.

Several other research firms also recently issued reports on SSAAY. Deutsche Bank Aktiengesellschaft restated a buy rating on shares of SSAB AB (publ) in a report on Tuesday, October 26th. Morgan Stanley reiterated an overweight rating on shares of SSAB AB (publ) in a research report on Thursday, October 28th. Credit Suisse Group reiterated an outperform rating on shares of SSAB AB (publ) in a research report on Friday, October 22nd. Barclays restated an overweight rating on shares of SSAB AB (publ) in a research report on Tuesday, October 26th. Finally, Citigroup restated a buy rating on shares of SSAB AB (publ) in a research report on Monday, November 1st. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $26.43.

Shares of OTCMKTS:SSAAY opened at $3.33 on Friday. The firm has a fifty day moving average of $2.72 and a two-hundred day moving average of $2.68. The firm has a market capitalization of $6.86 billion, a P/E ratio of 6.05 and a beta of 1.37. SSAB AB has a 12-month low of $1.84 and a 12-month high of $3.45. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.14.

SSAB AB (publ) (OTCMKTS:SSAAY) last announced its earnings results on Monday, October 25th. The basic materials company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $3 billion. SSAB AB (publ) had a net margin of 11.15% and a return on equity of 16.15%. Equities research analysts expect that SSAB AB will post 0.78 earnings per share for the current fiscal year.

About SSAB AB (publ)

SSAB AB engages in producing steel and construction solutions. It operates through the following five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. The SSAB Special Steels segment market and sell quenched and tempered steels and hot rolled. The SSAB Europe segment focuses in the strip, plate, and tubular products.

Further Reading: Hold Rating

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