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

Salzgitter AG (OTCMKTS:SZGPY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $5.8050, but opened at $6.20. Salzgitter shares last traded at $6.32, with a volume of 708 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on SZGPY shares. Morgan Stanley upgraded Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Citigroup reissued a “neutral” rating on shares of Salzgitter in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating and three 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 Stock Up 5.0%

The company has a fifty day moving average of $6.22 and a two-hundred day moving average of $5.70. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 70.22 and a beta of 1.72.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.09. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.53 billion.

Salzgitter Company Profile

Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.

Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.