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

Key Points

• Salzgitter AG shares opened at $4.09 after closing at $3.85, indicating a positive market movement.
• Analysts have mixed ratings on Salzgitter, with one "Strong Buy," one "Buy," three "Sell," and a consensus rating of "Hold."
• The company reported a negative EPS of ($0.12) for the last quarter, missing expectations, despite achieving revenue of $2.65 billion.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $3.85, but opened at $4.09. Salzgitter shares last traded at $4.09, with a volume of 188 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SZGPY shares. BNP Paribas raised Salzgitter to an "outperform" rating in a research note on Friday, October 3rd. DZ Bank lowered Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Finally, Zacks Research lowered Salzgitter from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Salzgitter Trading Up 6.1%

The firm has a 50-day moving average of $2.71 and a 200 day moving average of $2.55. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.75 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last announced its earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.33 billion. As a group, research analysts forecast that Salzgitter AG will post -0.68 EPS 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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