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Salzgitter (OTCMKTS:SZGPY) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Salzgitter logo with Basic Materials background

Key Points

  • Salzgitter AG's share price has recently crossed above its 200-day moving average of $2.33, trading as high as $2.60, indicating a potential bullish trend.
  • Analysts have recently downgraded the stock, with Oddo Bhf labeling it as an "underperform" and DZ Bank changing its rating from "strong-buy" to "hold".
  • The company's quarterly results showed negative earnings per share of ($0.07) and a revenue of $2.45 billion, while it has also announced a dividend with a yield of 52.0%.
  • Interested in Salzgitter? Here are five stocks we like better.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.33 and traded as high as $2.60. Salzgitter shares last traded at $2.60, with a volume of 347 shares traded.

Analysts Set New Price Targets

SZGPY has been the subject of several recent research reports. Oddo Bhf lowered Salzgitter to an "underperform" rating in a report on Tuesday, April 15th. DZ Bank downgraded Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th.

View Our Latest Analysis on Salzgitter

Salzgitter Price Performance

The stock has a market capitalization of $1.41 billion, a P/E ratio of -3.21 and a beta of 1.43. The stock's fifty day moving average is $2.49 and its 200-day moving average is $2.33.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share for the quarter. The company had revenue of $2.45 billion during the quarter. Salzgitter had a negative return on equity of 8.78% and a negative net margin of 4.16%. On average, research analysts expect that Salzgitter AG will post -0.68 EPS for the current year.

Salzgitter Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 26th were paid a $0.0117 dividend. The ex-dividend date was Friday, May 23rd. This represents a dividend yield of 52.0%. Salzgitter's payout ratio is presently -1.23%.

About Salzgitter

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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