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

Salzgitter AG (OTCMKTS:SZGPY) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.0450, but opened at $6.06. Salzgitter shares last traded at $5.98, with a volume of 6,005 shares.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Salzgitter currently has an average rating of “Moderate Buy”.

Salzgitter Stock Down 13.2%

The firm’s fifty day moving average price is $6.16 and its 200 day moving average price is $5.56. The stock has a market cap of $3.23 billion, a PE ratio of 66.44 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate 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.