SSAB (OTCMKTS:SSAAY) Trading Down 6.9% - Here's What Happened

Key Points

• SSAB's stock fell by 6.9% to $2.97, with trading volume decreasing by 69% compared to its average.
• Research analysts have issued a "hold" rating for SSAB, with Deutsche Bank and Nordea Equity Research both affirming their stance.
• SSAB reported earnings of $0.10 per share for the last quarter, with a revenue of $2.65 billion and a net margin of 4.62%.
• The company recently announced a dividend cut, with a yield of 2.46% and a payout ratio of 39.13%.

SSAB (OTCMKTS:SSAAY - Get Free Report)'s stock price dropped 6.9% during mid-day trading on Friday . The stock traded as low as $2.97 and last traded at $2.97. Approximately 1,000 shares were traded during trading, a decline of 69% from the average daily volume of 3,256 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

SSAAY has been the topic of several recent research reports. Nordea Equity Research downgraded SSAB to a "hold" rating in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a research report on Monday, April 14th.

SSAB Stock Up 4.2%

The stock has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $2.96. The company has a quick ratio of 1.54, a current ratio of 2.71 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.17 billion, a PE ratio of 14.07 and a beta of 1.29.

SSAB (OTCMKTS:SSAAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.10 earnings per share for the quarter. SSAB had a return on equity of 6.69% and a net margin of 4.62%. The business had revenue of $2.65 billion for the quarter. Analysts expect that SSAB will post 0.24 earnings per share for the current year.

SSAB Company Profile

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.