SSAB AB (publ) (OTCMKTS:SSAAY) Receives “Overweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of SSAB AB (publ) (OTCMKTS:SSAAY) in a report released on Thursday morning, The Fly reports.

SSAAY has been the topic of a number of other reports. Zacks Investment Research lowered shares of SSAB AB (publ) from a buy rating to a hold rating in a report on Saturday, July 17th. Barclays reissued an overweight rating on shares of SSAB AB (publ) in a report on Thursday. Oddo Bhf raised shares of SSAB AB (publ) from a neutral rating to an outperform rating in a report on Wednesday, June 23rd. Citigroup reissued a buy rating on shares of SSAB AB (publ) in a report on Tuesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a hold rating on shares of SSAB AB (publ) in a research note on Tuesday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $3.00.

OTCMKTS SSAAY traded up $0.29 during trading on Thursday, reaching $2.75. The company’s stock had a trading volume of 850 shares, compared to its average volume of 1,034. The company has a 50 day moving average of $2.57. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 45.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.80. SSAB AB has a 12 month low of $1.44 and a 12 month high of $3.02.

SSAB AB (publ) (OTCMKTS:SSAAY) last released its quarterly earnings data on Monday, April 26th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. SSAB AB (publ) had a net margin of 1.42% and a return on equity of 1.66%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.40 billion. As a group, research analysts anticipate that SSAB AB will post 0.61 earnings per share for the current fiscal year.

About SSAB AB (publ)

SSAB AB engages in producing steel and construction solutions. It operates through the following five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor and Ruukki Construction. The SSAB Special Steels segment market and sell quenched and tempered steels and hot rolled. The SSAB Europe segment focuses in the strip, plate, and tubular products.

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Analyst Recommendations for SSAB AB (publ) (OTCMKTS:SSAAY)

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