Salzgitter (OTCMKTS:SZGPY) Shares Gap Down - Here's What Happened

Key Points

• Salzgitter AG shares gapped down from a closing price of $2.71 to $2.59 before settling at $2.61 after trading started.
• The company recently faced mixed analyst ratings, with Kepler Capital raising it to a "strong-buy" while DZ Bank and Oddo Bhf downgraded their ratings.
• Salzgitter reported a quarterly loss with an EPS of (-$0.07) and a projected earnings per share of -0.68 for the current fiscal year.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $2.71, but opened at $2.59. Salzgitter shares last traded at $2.61, with a volume of 692 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Oddo Bhf lowered Salzgitter to an "underperform" rating in a research report on Tuesday, April 15th. DZ Bank cut shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th.

Salzgitter Trading Up 8.5%

The company has a market cap of $1.53 billion, a price-to-earnings ratio of -3.48 and a beta of 1.43. The company has a fifty day moving average price of $2.49 and a two-hundred day moving average price of $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) EPS for the quarter. The company had revenue of $2.45 billion during the quarter. Salzgitter had a negative net margin of 4.16% and a negative return on equity of 8.78%. Sell-side analysts anticipate that Salzgitter AG will post -0.68 EPS for the current fiscal year.

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 given a dividend of $0.0117 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 52.0%. Salzgitter's dividend payout ratio is -1.23%.

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.