Salzgitter (OTCMKTS:SZGPY) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

by · The Markets Daily

Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) shares saw strong trading volume on Monday following a stronger than expected earnings report. 8,075 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 5,873 shares.The stock last traded at $3.37 and had previously closed at $3.23.

The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a report on Friday, October 3rd. Zacks Research upgraded Salzgitter from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Check Out Our Latest Research Report on SZGPY

Salzgitter Trading Up 4.3%

The stock’s 50-day moving average price is $3.06 and its 200-day moving average price is $2.69. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -3.92 and a beta of 1.50.

About Salzgitter

(Get Free Report)

Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through four segments: Steel Production, Steel Processing, Trading, and Technology. The Steel Production segment manufactures steel and special steels, such as hot-rolled wide strip, steel sheet, sections, tailored blanks, as well as scrap trading.

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