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

Key Points

• Salzgitter AG's shares gapped down, opening at $3.60 after a previous close of $3.91, with a trading volume of 3,934 shares.
• Analyst ratings have varied significantly, with DZ Bank downgrading Salzgitter from "strong-buy" to "hold", while BNP Paribas upgraded it to "outperform"; the consensus rating remains "Hold".
• The company's most recent earnings report showed a loss of ($0.12) EPS, missing estimates, despite revenue of $2.65 billion exceeding expectations of $2.33 billion.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $3.91, but opened at $3.60. Salzgitter shares last traded at $3.60, with a volume of 3,934 shares traded.

Analyst Upgrades and Downgrades

SZGPY has been the subject of several recent analyst reports. DZ Bank cut shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Zacks Research lowered shares of Salzgitter from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Finally, BNP Paribas raised shares of Salzgitter to an "outperform" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

Salzgitter Stock Down 10.9%

The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -4.05 and a beta of 1.50. The firm's 50 day moving average is $2.79 and its 200 day moving average is $2.58.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its earnings results on Monday, August 11th. The basic materials company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. On average, sell-side analysts predict that Salzgitter AG will post -0.68 earnings per share for the current year.

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.

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