SSAB (OTCMKTS:SSAAY) Hits New 1-Year High – What’s Next?

SSAB (OTCMKTS:SSAAY) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.3350 and last traded at $5.26, with a volume of 671 shares changing hands. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

SSAAY has been the subject of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of SSAB in a research report on Monday. Morgan Stanley reissued an “overweight” rating on shares of SSAB in a research report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SSAB in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

SSAB Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.39. The business’s 50-day moving average is $4.99 and its two-hundred day moving average is $4.50. The firm has a market cap of $10.40 billion, a P/E ratio of 17.99 and a beta of 1.43.

SSAB (OTCMKTS:SSAAY) last issued its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.09 EPS for the quarter. SSAB had a net margin of 5.59% and a return on equity of 8.13%. The firm had revenue of $2.77 billion for the quarter. As a group, analysts predict that SSAB will post 0.4 earnings per share for the current fiscal year.

SSAB Company Profile

SSAB (OTCMKTS:SSAAY) is a Swedish steel producer specializing in high-strength and wear-resistant steels. The company develops and manufactures steel products for customers in industries such as construction, automotive, mining and heavy transport. SSAB’s key brands include Hardox® for abrasion-resistant steel, Strenx® for high-strength steel in structural applications and Docol® for advanced automotive steel solutions.

Founded in 1978 through the merger of Sweden’s state-owned steelworks, SSAB was privatized in the mid-1980s and listed on the Nasdaq Stockholm exchange.