Salzgitter (OTCMKTS:SZGPY) Reaches New 1-Year High – Here’s What Happened
by Jessica Moore · The Cerbat GemShares of Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.25 and last traded at $5.25, with a volume of 506 shares traded. The stock had previously closed at $4.75.
Analysts Set New Price Targets
SZGPY has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Salzgitter in a report on Monday, November 17th. UBS Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday, December 8th. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a report on Friday, December 5th. BNP Paribas upgraded Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Salzgitter from a “hold” rating to a “buy” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.
View Our Latest Stock Report on Salzgitter
Salzgitter Stock Up 10.5%
The firm’s 50 day simple moving average is $3.98 and its 200-day simple moving average is $3.18. The company has a market capitalization of $2.84 billion, a PE ratio of -13.12 and a beta of 1.47.
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 2.09% and a negative return on equity of 4.31%. As a group, sell-side analysts anticipate that Salzgitter AG will post -0.68 EPS for the current fiscal year.
About Salzgitter
Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.
Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.