Salzgitter (OTCMKTS:SZGPY) Shares Gap Down - What's Next?

Key Points

• Salzgitter AG's shares gapped down from $2.66 to an opening of $2.46, with the last recorded price at $2.50 and a trading volume of 513 shares.
• The company reported a loss of ($0.12) earnings per share for the most recent quarter, significantly missing the consensus estimate of $0.04.
• Salzgitter's dividend yield was reported at 52.0%, although the dividend payout ratio stands at -1.16%.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $2.66, but opened at $2.46. Salzgitter shares last traded at $2.50, with a volume of 513 shares trading hands.

Analyst Upgrades and Downgrades

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

Salzgitter Trading Up 1.6%

The stock's fifty day moving average price is $2.55 and its 200 day moving average price is $2.41. The stock has a market cap of $1.37 billion, a P/E ratio of -2.94 and a beta of 1.41.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last issued its earnings results on Monday, August 11th. The basic materials company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.33 billion. Salzgitter had a negative return on equity of 9.45% and a negative net margin of 4.45%. On average, analysts anticipate that Salzgitter AG will post -0.68 earnings per share for the current year.

Salzgitter Cuts Dividend

The firm 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. This represents a yield of 52.0%. The ex-dividend date of this dividend was Friday, May 23rd. Salzgitter's dividend payout ratio (DPR) is -1.16%.

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.