Shares of Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $4.95, but opened at $5.88. Salzgitter shares last traded at $5.88, with a volume of 173 shares trading hands.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Salzgitter in a research report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Salzgitter in a research note on Wednesday, May 13th. Finally, Morgan Stanley upgraded shares of Salzgitter from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.
Check Out Our Latest Analysis on Salzgitter
Salzgitter Trading Up 19.0%
Salzgitter (OTCMKTS:SZGPY – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.53 billion. Salzgitter had a net margin of 0.49% and a return on equity of 1.00%.
Salzgitter Company Profile
Salzgitter AG is a leading European steel producer headquartered in Salzgitter, Germany. The company operates an integrated steelworks, encompassing ironmaking, steelmaking, continuous casting and rolling mills. Its core business revolves around the production and processing of steel products for various industries, including automotive, construction, mechanical engineering and energy.
Founded in 1937 as part of Germany’s industrial expansion, Salzgitter evolved through post-war reconstruction and state ownership before being privatized in the late 1990s.
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