Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Here’s What Happened

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped down prior to trading on Friday . The stock had previously closed at $7.99, but opened at $7.10. Salzgitter shares last traded at $7.09, with a volume of 790 shares trading hands.

Wall Street Analysts Forecast Growth

SZGPY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Citigroup restated a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Finally, Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Salzgitter Price Performance

The business’s 50 day moving average is $5.68 and its two-hundred day moving average is $5.33. The firm has a market capitalization of $3.83 billion, a PE ratio of 78.78 and a beta of 1.65.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.02%.

Salzgitter Company Profile

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.