SSAB (OTCMKTS:SSAAY) Shares Gap Up – Here’s Why

SSAB (OTCMKTS:SSAAY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.06, but opened at $4.3501. SSAB shares last traded at $4.3501, with a volume of 290 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on SSAAY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research note on Monday. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

SSAB Stock Performance

The stock has a market cap of $8.67 billion, a PE ratio of 17.40 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39. The business has a 50 day moving average price of $4.20 and a two-hundred day moving average price of $3.81.

SSAB (OTCMKTS:SSAAY) last released its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.76 billion. SSAB had a net margin of 5.10% and a return on equity of 7.29%. As a group, equities research analysts forecast that SSAB will post 0.24 EPS for the current fiscal year.

About SSAB

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.