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

Salzgitter AG (OTCMKTS:SZGPY) shares gapped down prior to trading on Friday . The stock had previously closed at $6.15, but opened at $5.69. Salzgitter shares last traded at $5.69, with a volume of 191 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Zacks Research upgraded shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Salzgitter Stock Down 9.7%

The company’s 50-day moving average price is $6.05 and its 200-day moving average price is $5.82. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 47.42 and a beta of 1.68.

Salzgitter (OTCMKTS:SZGPY) last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.42 billion. On average, sell-side analysts predict that Salzgitter AG will post 0.37 earnings per share for the current fiscal year.

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.