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

Key Points

• Salzgitter AG shares experienced a significant gap up from $2.61 to $2.98 at the market opening, with last trades recording at $2.98 and a volume of 298 shares.
• Recent analyst ratings saw DZ Bank downgrade the stock from "strong-buy" to "hold," and Oddo Bhf rated it as "underperform," indicating mixed sentiments from the market.
• The company's most recent earnings report showed a loss of ($0.07) EPS for the quarter, alongside a revenue of $2.45 billion and a negative return on equity of 8.78%.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $2.61, but opened at $2.98. Salzgitter shares last traded at $2.98, with a volume of 298 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SZGPY shares. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Oddo Bhf cut Salzgitter to an "underperform" rating in a research note on Tuesday, April 15th.

Salzgitter Price Performance

The company has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.33. The firm has a market cap of $1.37 billion, a PE ratio of -3.12 and a beta of 1.43.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The basic materials company reported ($0.07) EPS for the quarter. Salzgitter had a negative return on equity of 8.78% and a negative net margin of 4.16%. The company had revenue of $2.45 billion for the quarter. On average, equities analysts anticipate that Salzgitter AG will post -0.68 earnings per share for the current fiscal year.

Salzgitter Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 26th were given a $0.0117 dividend. The ex-dividend date was Friday, May 23rd. This represents a yield of 52.0%. Salzgitter's dividend payout ratio is presently -1.23%.

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.