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

Key Points

• Salzgitter AG's stock opened at $3.28 after closing at $2.68, indicating a significant move in pre-market trading.
• Analyst ratings for Salzgitter have changed recently, with DZ Bank downgrading the stock from "strong-buy" to "hold", reflecting a generally negative sentiment among analysts.
• For the last quarter, Salzgitter reported a disappointing EPS of ($0.12), missing the consensus estimate, while revenues exceeded expectations at $2.65 billion.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $2.68, but opened at $3.28. Salzgitter shares last traded at $3.13, with a volume of 1,393 shares changing hands.

Wall Street Analyst Weigh In

SZGPY has been the subject of several analyst reports. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Zacks Research cut Salzgitter from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce".

Salzgitter Price Performance

The company has a market cap of $1.74 billion, a price-to-earnings ratio of -3.74 and a beta of 1.46. The business's fifty day moving average price is $2.62 and its 200 day moving average price is $2.53.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its earnings results on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. As a group, equities research analysts anticipate 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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