Salzgitter (OTCMKTS:SZGPY) Shares Down 13.9% – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY)’s share price fell 13.9% during trading on Friday . The company traded as low as $5.80 and last traded at $5.80. Approximately 656 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,491 shares. The stock had previously closed at $6.74.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SZGPY. Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group raised shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Salzgitter in a research note on Friday, September 4th. Finally, Zacks Research raised shares of Salzgitter to a “hold” rating in a report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Salzgitter currently has a consensus rating of “Moderate Buy”.

Salzgitter Stock Down 8.3%

The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 51.50 and a beta of 1.70. The stock’s 50 day moving average price is $6.19 and its two-hundred day moving average price is $5.86.

Salzgitter (OTCMKTS:SZGPY) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Salzgitter had a net margin of 0.65% and a return on equity of 1.30%. On average, analysts predict that Salzgitter AG will post 0.22 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based industrial group headquartered in Salzgitter, Lower Saxony. Its core business is the production and processing of steel products, including flat steel, heavy plate, structural steel, and precision steel tubes. The company supplies products to customers in industries such as automotive manufacturing, construction, mechanical engineering, energy, and infrastructure.

The Salzgitter Group operates through several business areas, including steel production, steel processing, trading, and technology.