Salzgitter (OTCMKTS:SZGPY) Sets New 12-Month High - Here's Why

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $3.52 and last traded at $3.49, with a volume of 10481 shares changing hands. The stock had previously closed at $2.78.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SZGPY shares. DZ Bank downgraded shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Oddo Bhf downgraded shares of Salzgitter to an "underperform" rating in a report on Tuesday, April 15th. Kepler Capital Markets raised shares of Salzgitter from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Salzgitter in a report on Wednesday, March 26th.

Salzgitter Price Performance

The stock has a market capitalization of $1.73 billion, a PE ratio of -3.95 and a beta of 1.43. The business's fifty day moving average price is $2.38 and its 200-day moving average price is $2.23.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Salzgitter had a negative return on equity of 8.78% and a negative net margin of 4.16%. The firm had revenue of $2.45 billion during the quarter. On average, analysts expect that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

Salzgitter Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 26th were issued a $0.0117 dividend. This represents a dividend yield of 0.52%. The ex-dividend date was Friday, May 23rd. Salzgitter's payout ratio is -1.23%.

About Salzgitter

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.