SSAB (OTCMKTS:SSAAY) Shares Gap Down - Here's What Happened

Key Points

• SSAB shares gapped down to $4.25 at Thursday's open from a $4.53 close, trading on light volume (950 shares).
• The company missed quarterly expectations, reporting $0.02 EPS vs $0.03 expected and $2.35B in revenue vs $2.76B estimated, with analysts projecting $0.24 EPS for the year.
• Analyst coverage is split (two Buy, two Hold) for an average rating of Moderate Buy; SSAB has a market cap of $8.47B and a P/E of 17.00.

SSAB (OTCMKTS:SSAAY - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.53, but opened at $4.25. SSAB shares last traded at $4.25, with a volume of 950 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SSAAY shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a report on Thursday, January 29th. Citigroup reissued a "buy" rating on shares of SSAB in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

SSAB Stock Performance

The company's fifty day moving average price is $4.17 and its two-hundred day moving average price is $3.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.39 and a current ratio of 2.48. The firm has a market capitalization of $8.47 billion, a PE ratio of 17.00 and a beta of 1.33.

SSAB (OTCMKTS:SSAAY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.76 billion. SSAB had a return on equity of 7.29% and a net margin of 5.10%. As a group, equities analysts expect that SSAB will post 0.24 earnings per share for the current 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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