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

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $2.54, but opened at $2.67. Salzgitter shares last traded at $2.56, with a volume of 7,284 shares changing hands.

Analyst Upgrades and Downgrades

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

Salzgitter Stock Up 1.8%

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.47 and a beta of 1.43. The business's 50-day simple moving average is $2.45 and its two-hundred day simple moving average is $2.30.

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 (EPS) for the quarter. Salzgitter had a negative net margin of 4.16% and a negative return on equity of 8.78%. The business had revenue of $2.45 billion during the quarter. Sell-side analysts anticipate that Salzgitter AG will post -0.68 earnings per share for the current year.

Salzgitter Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 26th were given a $0.0117 dividend. This represents a dividend yield of 0.52%. The ex-dividend date was Friday, May 23rd. Salzgitter's dividend payout ratio is presently -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.