Salzgitter (OTCMKTS:SZGPY) Trading 9.3% Higher - What's Next?

Key Points

• Salzgitter AG's stock surged 9.3% during mid-day trading, reaching $2.46 after closing at $2.25, although trading volume was down by 87% compared to its average.
• Analysts have given mixed ratings on Salzgitter, with a recent downgrade from Zacks Research moving it from "hold" to "strong sell," leading to an average rating of "Reduce."
• In its latest earnings report, Salzgitter reported a loss of ($0.12) EPS, missing estimates, but exceeded revenue expectations with $2.65 billion for the quarter.

Salzgitter AG (OTCMKTS:SZGPY - Get Free Report) rose 9.3% during mid-day trading on Monday . The stock traded as high as $2.46 and last traded at $2.46. Approximately 504 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 3,774 shares. The stock had previously closed at $2.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SZGPY. Zacks Research cut Salzgitter from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. DZ Bank cut Salzgitter from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce".

Salzgitter Stock Performance

The company has a market cap of $1.33 billion, a price-to-earnings ratio of -2.86 and a beta of 1.46. The business's 50 day simple moving average is $2.62 and its 200-day simple moving average is $2.49.

Salzgitter (OTCMKTS:SZGPY - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). Salzgitter had a negative return on equity of 9.45% and a negative net margin of 4.45%.The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Research analysts expect that Salzgitter AG will post -0.68 earnings per share for the current year.

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.

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