SSAB (OTCMKTS:SSAAY – Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $5.30 and last traded at $5.30, with a volume of 1192 shares traded. The stock had previously closed at $5.20.
Wall Street Analysts Forecast Growth
SSAAY has been the subject of several recent research reports. Morgan Stanley raised SSAB from an “overweight” rating to an “overweight” rating in a research report on Tuesday, May 5th. Citigroup reissued a “buy” rating on shares of SSAB in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of SSAB in a research report on Monday, April 13th. Three 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, SSAB has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Analysis on SSAB
SSAB Stock Up 1.9%
SSAB (OTCMKTS:SSAAY – Get Free Report) last announced its earnings results on Tuesday, April 28th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter. SSAB had a return on equity of 8.13% and a net margin of 5.59%.The company had revenue of $2.77 billion for the quarter. On average, equities analysts predict that SSAB will post 0.38 earnings per share for the current fiscal year.
About SSAB
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.
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