SSAB (OTCMKTS:SSAAY) Stock Price Down 7% - Time to Sell?

Key Points

• Shares of SSAB were down 7% to $3.875 mid-day, trading below the 50‑day moving average on lighter-than-average volume (1,650 vs. average 2,104 shares).
• Analyst coverage is mixed with two Buy and two Hold ratings, giving a consensus of “Moderate Buy”; Citigroup is a Buy while Deutsche Bank reiterates a Hold.
• SSAB’s latest quarter missed estimates (EPS $0.02 vs. $0.03 expected; revenue $2.35B vs. $2.76B), though the company shows a P/E of 15.5, market cap ~$7.72B and low leverage (debt/equity 0.10).

Shares of SSAB (OTCMKTS:SSAAY - Get Free Report) traded down 7% during mid-day trading on Wednesday . The stock traded as low as $3.8750 and last traded at $3.8750. 1,650 shares were traded during mid-day trading, a decline of 22% from the average session volume of 2,104 shares. The stock had previously closed at $4.1650.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SSAB in a report on Thursday, January 29th. Citigroup restated a "buy" rating on shares of SSAB in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, SSAB currently has a consensus rating of "Moderate Buy".

SSAB Stock Up 2.4%

The company has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $3.70. The company has a quick ratio of 1.39, a current ratio of 2.48 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.72 billion, a P/E ratio of 15.50 and a beta of 1.33.

SSAB (OTCMKTS:SSAAY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). SSAB had a net margin of 5.10% and a return on equity of 7.29%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.76 billion. On average, equities analysts anticipate 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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