Salzgitter (OTCMKTS:SZGPY) Shares Gap Up – Time to Buy?

Shares of Salzgitter AG (OTCMKTS:SZGPY) gapped up before the market opened on Tuesday . The stock had previously closed at $3.2850, but opened at $3.42. Salzgitter shares last traded at $3.44, with a volume of 9,550 shares traded.

Wall Street Analyst Weigh In

SZGPY has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Salzgitter from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. BNP Paribas upgraded Salzgitter to an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley restated an “underweight” rating on shares of Salzgitter in a report on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Salzgitter has a consensus rating of “Hold”.

Salzgitter Trading Up 8.5%

The stock’s 50-day moving average price is $3.28 and its 200-day moving average price is $2.78. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -4.48 and a beta of 1.50.

Salzgitter (OTCMKTS:SZGPY) last released its earnings results on Monday, November 10th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.64 billion. Salzgitter had a negative net margin of 4.45% and a negative return on equity of 9.40%. As a group, analysts predict that Salzgitter AG will post -0.68 earnings per share for the current year.

About Salzgitter

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.