Salzgitter (OTCMKTS:SZGPY) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Salzgitter has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, indicating increasing concerns about the company's performance.
• In addition to Zacks, DZ Bank also lowered their rating from "strong-buy" to "hold," highlighting a general trend of bearish sentiment among analysts.
• Despite the downgrades, Salzgitter's shares have recently traded up by 2.8%, with a current market price of $2.60 and a 1-year trading range between $1.3990 and $3.56.

Zacks Research downgraded shares of Salzgitter (OTCMKTS:SZGPY - Free Report) from a hold rating to a strong sell rating in a report issued on Thursday, August 21st,Zacks.com reports.

Separately, DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Salzgitter has a consensus rating of "Reduce".

Salzgitter Stock Down 7.4%

SZGPY stock traded down $0.20 during midday trading on Thursday, reaching $2.51. 318 shares of the company's stock traded hands, compared to its average volume of 3,851. The company has a 50-day simple moving average of $2.62 and a two-hundred day simple moving average of $2.45. Salzgitter has a 1-year low of $1.40 and a 1-year high of $3.56. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -2.92 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.45%. Equities research analysts forecast that Salzgitter will post -0.68 EPS for the current year.

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.