SSAB (OTCMKTS:SSAAY) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

SSAB (OTCMKTS:SSAAY) released its quarterly earnings results on Wednesday. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), Zacks reports. SSAB had a net margin of 5.17% and a return on equity of 7.33%.

SSAB Stock Performance

OTCMKTS SSAAY remained flat at $4.34 during trading on Wednesday. 10 shares of the company’s stock traded hands, compared to its average volume of 1,155. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $8.65 billion, a PE ratio of 17.36 and a beta of 1.31. SSAB has a 1-year low of $2.14 and a 1-year high of $4.60. The business’s 50-day simple moving average is $3.81 and its 200 day simple moving average is $3.34.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of SSAB in a report on Thursday, January 22nd. Danske upgraded shares of SSAB from a “hold” rating to a “buy” rating in a report on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, SSAB currently has an average rating of “Moderate Buy”.

SSAB Company Profile

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.