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

Key Points

• Salzgitter AG shares experienced a notable gap up, opening at $3.26 after a previous close of $2.97.
• The company received upgrades from analysts, with BNP Paribas rating it as "outperform" and Zacks Research upgrading it to "hold," leading to a consensus rating of "Hold."
• Despite a revenue of $2.65 billion reported for the last quarter, Salzgitter posted an EPS loss of ($0.12), significantly missing expectations.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.97, but opened at $3.26. Salzgitter shares last traded at $3.25, with a volume of 24,452 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SZGPY shares. BNP Paribas upgraded Salzgitter to an "outperform" rating in a research note on Friday, October 3rd. Zacks Research upgraded Salzgitter from a "strong sell" rating to a "hold" rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Salzgitter Stock Up 12.1%

The company has a market cap of $1.80 billion, a price-to-earnings ratio of -3.87 and a beta of 1.50. The firm has a 50-day simple moving average of $2.88 and a 200 day simple moving average of $2.62.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly 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). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%. As a group, research analysts expect that Salzgitter AG will post -0.68 EPS for the current year.

About Salzgitter

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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