Salzgitter (OTCMKTS:SZGPY) Shares Gap Up - What's Next?

Key Points

• Salzgitter shares jumped 3.9%, opening at $5.33 versus a prior close of $4.884, though trading volume was light at 655 shares.
• Analyst sentiment is generally positive: five analysts rate the stock Buy and two rate it Hold, resulting in a consensus “Moderate Buy” rating.
• The company’s latest quarterly results were mixed, with revenue of $2.61 billion exceeding estimates but EPS of negative $0.09 missing the $0.06 consensus forecast.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) shares gapped up before the market opened on Thursday. The stock had previously closed at $4.8840, but opened at $5.33. Salzgitter shares last traded at $5.33, with a volume of 655 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on SZGPY shares. Citigroup restated a "neutral" rating on shares of Salzgitter in a research report on Friday, October 23rd. UBS Group upgraded shares of Salzgitter from a "hold" rating to a "buy" rating in a research note on Friday, October 9th. Jefferies Financial Group upgraded shares of Salzgitter from a "hold" rating to a "buy" rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Salzgitter in a report on Friday, September 4th. Finally, Zacks Research upgraded shares of Salzgitter to a "hold" rating in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Salzgitter Stock Up 3.9%

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 44.33 and a beta of 1.70. The company has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $5.82.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last issued its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). Salzgitter had a return on equity of 1.29% and a net margin of 0.65%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. As a group, sell-side analysts anticipate that Salzgitter AG will post 0.14 earnings per share for the current fiscal year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. The company produces and processes a broad range of steel products, including flat steel, plate, sections, sheet piling and other long products, as well as tubes and precision steel products. Its products serve industries such as automotive manufacturing, construction, mechanical engineering, energy and infrastructure.

The group operates through businesses focused on steel production, steel processing, trading and technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.