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

Key Points

• Shares of Salzgitter AG opened at $2.65 after closing at $2.50, with a trading volume of 368 shares.
• Equities analysts have given mixed ratings, with one strong buy, one hold, and three sell ratings, while Zacks Research recently downgraded the stock to a strong sell.
• In its latest earnings report, Salzgitter missed EPS estimates, reporting ($0.12) instead of the expected $0.04, despite revenues surpassing expectations at $2.65 billion.

Shares of Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $2.50, but opened at $2.65. Salzgitter shares last traded at $2.65, with a volume of 368 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research cut shares of Salzgitter from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. DZ Bank lowered Salzgitter from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Salzgitter has an average rating of "Reduce".

Salzgitter Trading Up 5.8%

The company has a market capitalization of $1.43 billion, a P/E ratio of -3.08 and a beta of 1.46. The company's fifty day moving average is $2.63 and its 200 day moving average is $2.49.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last posted 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 company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion. Salzgitter had a negative return on equity of 9.45% and a negative net margin of 4.45%. Equities research analysts predict 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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