SSAB (OTCMKTS:SSAAY) Stock Rating Upgraded by Dnb Carnegie

Key Points

• Dnb Carnegie upgraded SSAB from “hold” to “strong buy,” while other analysts maintain mostly positive views; MarketBeat’s consensus rating is “Buy.”
• SSAB shares opened at $4.95, compared with a 52-week range of $3.04 to $5.74; the company has a $9.87 billion market capitalization and a 16.50 P/E ratio.
• SSAB reported quarterly EPS of $0.08, slightly below the $0.09 consensus estimate, on revenue of $2.66 billion; analysts expect full-year EPS of approximately $0.39.

SSAB (OTCMKTS:SSAAY - Get Free Report) was upgraded by research analysts at Dnb Carnegie from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday, Zacks reports.

A number of other equities analysts also recently issued reports on SSAAY. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SSAB in a research note on Friday, September 4th. Morgan Stanley reissued an "overweight" rating on shares of SSAB in a report on Tuesday, July 28th. Finally, Citigroup restated a "buy" rating on shares of SSAB in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".

SSAB Price Performance

Shares of SSAAY opened at $4.95 on Thursday. SSAB has a fifty-two week low of $3.04 and a fifty-two week high of $5.74. The firm's 50 day moving average price is $5.32 and its 200 day moving average price is $4.83. The company has a market cap of $9.87 billion, a P/E ratio of 16.50 and a beta of 1.40. The company has a quick ratio of 1.37, a current ratio of 2.43 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). SSAB had a net margin of 5.65% and a return on equity of 8.19%. The firm had revenue of $2.66 billion during the quarter. On average, research analysts forecast that SSAB will post 0.39 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB AB is a Sweden-based steel company that develops and produces high-strength, advanced high-strength, wear-resistant and other specialty steels. Its products are used in transportation, construction, manufacturing, mining, agriculture and energy applications, where improved strength, durability and reduced weight can support longer service life and greater efficiency.

The company markets products under brands including Strenx structural steel, Hardox wear plate, Docol automotive steel, GreenCoat color-coated steel and SSAB Zero, a steel product made with virtually fossil-free energy and production methods.

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