Salzgitter (OTCMKTS:SZGPY) Shares Up 11.1% – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) rose 11.1% during mid-day trading on Wednesday . The company traded as high as $3.9450 and last traded at $3.9450. Approximately 8,281 shares were traded during trading, an increase of 26% from the average daily volume of 6,561 shares. The stock had previously closed at $3.55.

Wall Street Analysts Forecast Growth

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

Salzgitter Price Performance

The company has a market capitalization of $2.08 billion, a P/E ratio of -4.48 and a beta of 1.50. The firm has a fifty day moving average price of $3.26 and a 200-day moving average price of $2.77.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share for the quarter, beating 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%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.64 billion. On average, research analysts forecast that Salzgitter AG will post -0.68 EPS for the current year.

Salzgitter Company Profile

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.