DZ Bank Downgrades Salzgitter (OTCMKTS:SZGPY) to Hold

Salzgitter (OTCMKTS:SZGPY - Get Free Report) was downgraded by equities research analysts at DZ Bank from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the stock. Kepler Capital Markets upgraded shares of Salzgitter from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Morgan Stanley reiterated an "underweight" rating on shares of Salzgitter in a report on Wednesday, March 26th. Finally, Oddo Bhf downgraded shares of Salzgitter to an "underperform" rating in a report on Tuesday, April 15th.

Salzgitter Stock Performance

Shares of Salzgitter stock traded down $0.05 during midday trading on Tuesday, reaching $2.38. 527 shares of the company's stock traded hands, compared to its average volume of 590. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -2.94 and a beta of 1.45. The company's 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.13. Salzgitter has a 52 week low of $1.40 and a 52 week high of $3.01.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share for the quarter. The business had revenue of $2.45 billion for the quarter. Salzgitter had a negative net margin of 4.16% and a negative return on equity of 8.78%. As a group, equities research analysts predict that Salzgitter will post -0.68 earnings per share 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.