Salzgitter (OTCMKTS:SZGPY) Sees Strong Trading Volume – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPYGet Free Report) saw unusually-strong trading volume on Monday . Approximately 8,000 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 6,526 shares.The stock last traded at $3.3250 and had previously closed at $3.12.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SZGPY. Deutsche Bank Aktiengesellschaft raised Salzgitter from a “hold” rating to a “buy” rating in a research report on Tuesday. BNP Paribas upgraded Salzgitter to an “outperform” rating in a research note on Friday, October 3rd. Morgan Stanley reiterated an “underweight” rating on shares of Salzgitter in a research note on Monday, November 17th. Finally, Zacks Research raised shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Check Out Our Latest Report on Salzgitter

Salzgitter Stock Up 8.5%

The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -4.48 and a beta of 1.50. The stock has a fifty day moving average of $3.26 and a 200-day moving average of $2.77.

Salzgitter (OTCMKTS:SZGPYGet Free Report) last issued its quarterly earnings data on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.64 billion. On average, equities analysts forecast that Salzgitter AG will post -0.68 EPS for the current fiscal year.

Salzgitter Company Profile

(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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