Salzgitter (OTCMKTS:SZGPY) Releases Earnings Results, Misses Estimates By $0.16 EPS

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) issued its quarterly earnings results on Monday. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16), Zacks reports. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.45%. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion.

Salzgitter Trading Down 6.4%

Shares of SZGPY traded down $0.17 during mid-day trading on Friday, reaching $2.49. 1,000 shares of the stock traded hands, compared to its average volume of 1,675. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -2.90 and a beta of 1.41. Salzgitter has a 1 year low of $1.40 and a 1 year high of $3.56. The firm has a fifty day moving average price of $2.54 and a 200 day moving average price of $2.40.

Salzgitter Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 26th were issued a $0.0117 dividend. 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%.

Wall Street Analysts Forecast Growth

Separately, DZ Bank downgraded shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th.

Salzgitter Company Profile

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.