Salzgitter (OTCMKTS:SZGPY – Get Rating) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Wednesday, The Fly reports.
Other analysts have also recently issued research reports about the stock. Credit Suisse Group cut their target price on shares of Salzgitter from €30.00 ($31.58) to €28.60 ($30.11) and set an “underperform” rating for the company in a research note on Thursday, June 16th. JPMorgan Chase & Co. cut shares of Salzgitter from a “neutral” rating to an “underweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Salzgitter from €35.00 ($36.84) to €42.00 ($44.21) in a research note on Thursday, March 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.52.
Salzgitter stock traded down $0.32 during mid-day trading on Wednesday, reaching $2.68. The company’s stock had a trading volume of 12,700 shares, compared to its average volume of 2,498. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 3.15 and a beta of 1.17. Salzgitter has a 12 month low of $2.67 and a 12 month high of $5.16. The business’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $3.90.
Salzgitter (OTCMKTS:SZGPY – Get Rating) last released its earnings results on Thursday, May 12th. The basic materials company reported $0.76 earnings per share for the quarter. Salzgitter had a net margin of 7.73% and a return on equity of 25.29%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.19 billion. As a group, analysts predict that Salzgitter will post 1.84 earnings per share for the current fiscal year.
About Salzgitter (Get Rating)
Salzgitter AG, together with its subsidiaries, engages in steel and technology businesses worldwide. It operates through five segments: Strip Steel, Plate/Section Steel, Mannesmann, Trading, and Technology. The Strip Steel segment manufactures branded and special steels, such as hot-rolled strip steel and steel sheets, sections, tailored blanks, and components for the construction industry.