Salzgitter (OTCMKTS:SZGPY) Sets New 52-Week High – What’s Next?

Salzgitter AG (OTCMKTS:SZGPY) reached a new 52-week high during trading on Friday . The company traded as high as $3.64 and last traded at $3.64, with a volume of 504 shares changing hands. The stock had previously closed at $3.44.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Zacks Research downgraded shares of Salzgitter from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. BNP Paribas raised shares of Salzgitter to an “outperform” rating in a research report on Friday. Finally, DZ Bank downgraded shares of Salzgitter from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Salzgitter currently has a consensus rating of “Hold”.

Salzgitter Trading Up 9.0%

The business’s 50-day moving average price is $2.66 and its 200-day moving average price is $2.54. The stock has a market cap of $2.03 billion, a PE ratio of -4.36 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY) last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). Salzgitter had a negative return on equity of 9.40% and a negative net margin of 4.45%.The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.33 billion. As a group, analysts predict that Salzgitter AG will post -0.68 earnings per share 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.