Salzgitter AG (OTCMKTS:SZGPY – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $5.8050, but opened at $6.20. Salzgitter shares last traded at $6.32, with a volume of 708 shares.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Citigroup reiterated a “neutral” rating on shares of Salzgitter in a research note on Wednesday, May 20th. Morgan Stanley raised shares of Salzgitter from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Jefferies Financial Group upgraded shares of Salzgitter from a “hold” rating to a “buy” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Salzgitter in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.
Get Our Latest Stock Analysis on SZGPY
Salzgitter Trading Up 5.0%
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, beating analysts’ consensus estimates of $0.08 by $0.09. Salzgitter had a return on equity of 1.00% and a net margin of 0.49%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.53 billion.
About Salzgitter
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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