Salzgitter (OTCMKTS:SZGPY) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Salzgitter from a "strong sell" rating to a "hold" rating, reflecting a more optimistic outlook for the company.
• Salzgitter's stock has a market cap of $1.97 billion and a 52-week trading range between $1.40 and $4.09.
• The company reported a loss of ($0.12) earnings per share for the last quarter, significantly missing the consensus estimate, though it generated revenue of $2.65 billion.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. BNP Paribas raised Salzgitter to an "outperform" rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Salzgitter presently has a consensus rating of "Hold".

Salzgitter Price Performance

Shares of SZGPY stock opened at $3.64 on Monday. Salzgitter has a fifty-two week low of $1.40 and a fifty-two week high of $4.09. The stock's 50-day moving average is $2.83 and its two-hundred day moving average is $2.59. The firm has a market cap of $1.97 billion, a P/E ratio of -4.23 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last issued its earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. As a group, research analysts expect 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.

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