Salzgitter (OTCMKTS:SZGPY) Shares Gap Down – Should You Sell?

Salzgitter AG (OTCMKTS:SZGPY) gapped down before the market opened on Friday. The stock had previously closed at $6.10, but opened at $5.01. Salzgitter shares last traded at $5.1350, with a volume of 550 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SZGPY. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Salzgitter in a report on Friday, September 4th. Finally, Zacks Research raised Salzgitter to a “hold” rating in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Salzgitter has a consensus rating of “Moderate Buy”.

Salzgitter Stock Performance

The company’s 50-day moving average is $6.18 and its 200-day moving average is $5.88. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 42.79 and a beta of 1.70.

Salzgitter (OTCMKTS:SZGPY) last announced its earnings results on Tuesday, August 11th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.15). Salzgitter had a return on equity of 1.29% and a net margin of 0.65%.The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.42 billion. On average, analysts predict that Salzgitter AG will post 0.22 EPS for the current year.

About Salzgitter

Salzgitter AG is a Germany-based steel and technology group headquartered in Salzgitter, Lower Saxony. Its activities are organized across steel production, steel processing, trading and technology. The company supplies steel products for applications in construction, automotive manufacturing, mechanical engineering, energy and other industrial markets.

Its steel business produces flat steel, plate, sections and other rolled products, while its processing operations manufacture tubes, precision steel products and related components.