Salzgitter (OTCMKTS:SZGPY) Trading 8% Higher - Here's What Happened

Key Points

• Salzgitter AG's shares rose 8% in mid-day trading, reaching $3.12, despite a 26% decline in trading volume compared to the average.
• Analysts have mixed views, with Kepler Capital Markets upgrading the stock to a "strong-buy" while others like Oddo Bhf have downgraded it to "underperform".
• Salzgitter recently declared a dividend of $0.0117 per share but has a negative dividend payout ratio of -1.23%.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) rose 8% on Monday . The stock traded as high as $3.12 and last traded at $3.12. Approximately 3,175 shares changed hands during trading, a decline of 26% from the average daily volume of 4,312 shares. The stock had previously closed at $2.89.

Wall Street Analyst Weigh In

SZGPY has been the topic of several research analyst reports. Oddo Bhf cut Salzgitter to an "underperform" rating in a report on Tuesday, April 15th. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th.

Salzgitter Stock Performance

The stock has a market capitalization of $1.37 billion, a PE ratio of -3.12 and a beta of 1.43. The stock has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $2.33.

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

Salzgitter Cuts Dividend

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