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

Key Points

• SSAB shares gapped down — the stock opened at $4.11 after a $4.3050 close and was last trading around $4.06, down roughly 5.7% on light volume (3,000 shares).
• Quarterly miss: SSAB reported EPS of $0.02 versus $0.03 expected and revenue of $2.35 billion versus $2.76 billion consensus.
• Analysts are split with two Buy and two Hold ratings, leaving a consensus rating of "Moderate Buy" (Citigroup reiterated Buy; Deutsche Bank reiterated Hold).

SSAB (OTCMKTS:SSAAY - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.3050, but opened at $4.11. SSAB shares last traded at $4.06, with a volume of 3,000 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SSAAY shares. Citigroup reaffirmed a "buy" rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SSAB in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

SSAB Trading Down 5.7%

The firm has a market capitalization of $8.09 billion, a PE ratio of 16.24 and a beta of 1.36. The stock's 50-day moving average price is $4.21 and its 200 day moving average price is $3.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39.

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

About SSAB

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.