Shares of Saab AB – Unsponsored ADR (OTCMKTS:SAABY – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $28.78, but opened at $30.26. Saab shares last traded at $30.43, with a volume of 20,046 shares trading hands.
More Saab News
Here are the key news stories impacting Saab this week:
- Positive Sentiment: Canada has opened talks to purchase Saab’s GlobalEye surveillance aircraft, with Prime Minister Mark Carney indicating discussions are underway to bolster Canada’s military capabilities. Canada in Talks to Acquire Saab GlobalEye Aircraft, PM Carney Says — Update
- Positive Sentiment: Multiple reports say Canada has selected Saab as the preferred supplier for its future AEW&C capability, suggesting Saab is close to securing a meaningful defense procurement win. Saab AB: Canada Engages Saab As Preferred Supplier Of Future Aew&c Capability
- Positive Sentiment: Coverage from defense outlets also says Saab’s GlobalEye was chosen for Canada’s AEW&C program, reinforcing expectations for a new export contract and potential follow-on opportunities. Saab GlobalEye Wins Canadian Selection For AEW&C
- Neutral Sentiment: Short interest in Saab rose sharply in mid-May, but the absolute level remains very small, so this appears more like a market statistic than a major fundamental driver right now.
Analyst Ratings Changes
Separately, Citigroup upgraded Saab from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.
Saab Price Performance
The firm has a market capitalization of $32.99 billion, a P/E ratio of 39.51 and a beta of -0.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 0.84. The stock’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $32.06.
Saab (OTCMKTS:SAABY – Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.15 EPS for the quarter. Saab had a net margin of 7.87% and a return on equity of 15.43%. The business had revenue of $2.10 billion during the quarter.
Saab Company Profile
Saab AB is a Sweden-based aerospace and defense company that develops, manufactures and supplies products, services and solutions for military and civil security markets. Founded in 1937 as an aircraft manufacturer, the company has diversified into areas including combat aircraft, airborne surveillance, radar and sensor systems, missiles and weapons, naval vessels and underwater systems, as well as command-and-control, training and simulation and cybersecurity solutions.
In aeronautics, Saab is best known for its Gripen family of multi-role fighter aircraft and for airborne surveillance solutions that integrate radars and sensors.
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