SSAB (OTCMKTS:SSAAY) Shares Gap Up - Here's Why

Key Points

• SSAB shares gapped up in premarket trading, opening at $4.3501 versus the prior close of $4.06, with just 290 shares traded at the last print.
• Analysts are split—two Buy and two Hold ratings result in an overall "Moderate Buy" consensus, with Citigroup reiterating a Buy and Deutsche Bank a Hold.
• SSAB missed quarterly expectations, reporting EPS of $0.02 vs. $0.03 expected and revenue of $2.35B vs. $2.76B, while trading with a market cap of $8.67B, a P/E of 17.4 and a low debt-to-equity of 0.10.

Shares of SSAB (OTCMKTS:SSAAY - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.06, but opened at $4.3501. SSAB shares last traded at $4.3501, with a volume of 290 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup restated a "buy" rating on shares of SSAB in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a research report on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

SSAB Stock Performance

The company has a market capitalization of $8.67 billion, a P/E ratio of 17.40 and a beta of 1.36. The company's 50-day moving average is $4.20 and its two-hundred day moving average is $3.81. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10.

SSAB (OTCMKTS:SSAAY - Get Free Report) last issued its earnings results 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 firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.76 billion. SSAB had a return on equity of 7.29% and a net margin of 5.10%. Equities analysts anticipate that SSAB will post 0.24 earnings per share 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.

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