Salzgitter (OTCMKTS:SZGPY) Shares Gap Up - Should You Buy?

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.98, but opened at $3.33. Salzgitter shares last traded at $3.33, with a volume of 3,454 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SZGPY shares. Oddo Bhf cut shares of Salzgitter to an "underperform" rating in a research report on Tuesday, April 15th. Morgan Stanley restated an "underweight" rating on shares of Salzgitter in a research report on Wednesday, March 26th. DZ Bank cut shares of Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, Kepler Capital Markets upgraded shares of Salzgitter from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st.

Salzgitter Stock Down 5.6%

The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -3.14 and a beta of 1.43. The business's 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $2.27.

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

Salzgitter Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 26th were issued a dividend of $0.0117 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 0.52%. Salzgitter's payout ratio is currently -1.23%.

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.