Salzgitter (OTCMKTS:SZGPY) Announces Earnings Results

Key Points

• Salzgitter reported an earnings per share (EPS) of ($0.12), missing the analysts' expectations of $0.04 by a significant margin of $0.16.
• The company has a negative net margin of 4.16% and a return on equity of -8.78%, indicating financial challenges.
• Salzgitter's stock has seen a recent price movement, rising 3.5% after the earnings announcement, despite a challenging financial performance.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) posted its earnings results on Monday. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16), Zacks reports. Salzgitter had a negative return on equity of 9.45% and a negative net margin of 4.45%. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion.

Salzgitter Stock Performance

Shares of Salzgitter stock remained flat at $2.66 during trading on Wednesday. 54 shares of the stock traded hands, compared to its average volume of 1,685. The company has a market cap of $1.44 billion, a PE ratio of -3.09 and a beta of 1.41. The business's 50-day simple moving average is $2.53 and its 200-day simple moving average is $2.39. Salzgitter has a 1-year low of $1.40 and a 1-year high of $3.56.

Salzgitter Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 26th were given a dividend of $0.0117 per share. This represents a dividend yield of 52.0%. The ex-dividend date of this dividend was Friday, May 23rd. Salzgitter's payout ratio is -1.16%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Oddo Bhf downgraded shares of Salzgitter to an "underperform" rating in a report on Tuesday, April 15th. DZ Bank downgraded shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th.

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.