SSAB (OTCMKTS:SSAAY) Reaches New 52-Week High - Here's What Happened

Key Points

• New 52-week high: SSAB shares traded as high as $4.75 (last trade $4.75) versus the prior close of $4.58, on a volume of 1,000 shares.
• Analyst sentiment: The consensus is a Moderate Buy (three Buy ratings and one Hold), with Citigroup on Buy and Deutsche Bank on Hold while Morgan Stanley carries an Overweight stance.
• Key fundamentals: market cap about $9.49 billion and a P/E of 16.41; last quarter EPS was $0.09 on $2.77 billion revenue, and analysts expect roughly $0.38 EPS for the current fiscal year.

SSAB (OTCMKTS:SSAAY - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.75 and last traded at $4.75, with a volume of 1000 shares changing hands. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

SSAAY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SSAB in a research note on Monday, April 13th. Citigroup restated a "buy" rating on shares of SSAB in a research report on Thursday, January 22nd. Finally, Morgan Stanley upgraded SSAB from an "overweight" rating to an "overweight" rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, SSAB has a consensus rating of "Moderate Buy".

SSAB Price Performance

The firm has a market cap of $9.49 billion, a P/E ratio of 16.41 and a beta of 1.39. The company has a current ratio of 2.48, a quick ratio of 1.39 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $4.28 and a two-hundred day moving average of $3.94.

SSAB (OTCMKTS:SSAAY - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a return on equity of 8.13% and a net margin of 5.59%.The firm had revenue of $2.77 billion for the quarter. On average, sell-side analysts anticipate that SSAB will post 0.38 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB OTCMKTS: SSAAY is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB's key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden's state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.

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