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

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.49, but opened at $3.25. Salzgitter shares last traded at $3.20, with a volume of 2,368 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Kepler Capital Markets raised Salzgitter from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Morgan Stanley reissued an "underweight" rating on shares of Salzgitter in a research note on Wednesday, March 26th. Finally, Oddo Bhf cut Salzgitter to an "underperform" rating in a research note on Tuesday, April 15th.

Salzgitter Price Performance

The company has a market capitalization of $1.73 billion, a P/E ratio of -3.95 and a beta of 1.43. The company has a 50 day moving average of $2.38 and a 200-day moving average of $2.22.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted its earnings results on Monday, May 12th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. The business 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%. Research analysts predict that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 26th were issued a $0.0117 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 0.52%. Salzgitter's dividend payout ratio (DPR) is presently -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.