Salzgitter (OTCMKTS:SZGPY) Price Target Cut to €28.50

Salzgitter (OTCMKTS:SZGPY) had its target price decreased by JPMorgan Chase & Co. from €32.00 ($36.36) to €28.50 ($32.39) in a research report released on Friday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of Salzgitter from an equal weight rating to an underweight rating in a report on Thursday, December 9th. UBS Group upgraded shares of Salzgitter from a sell rating to a neutral rating in a report on Thursday, November 11th. Finally, Zacks Investment Research cut shares of Salzgitter from a buy rating to a hold rating in a research report on Thursday, October 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $16.13.

Shares of OTCMKTS SZGPY opened at $4.25 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 4.47 and a beta of 1.26. Salzgitter has a 1 year low of $2.50 and a 1 year high of $4.25. The firm’s 50-day moving average is $3.31 and its 200-day moving average is $3.40.

Salzgitter (OTCMKTS:SZGPY) last released its quarterly earnings data on Friday, November 12th. The basic materials company reported $0.51 earnings per share for the quarter. Salzgitter had a net margin of 4.87% and a return on equity of 14.70%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.92 billion. As a group, equities research analysts expect that Salzgitter will post 1.25 EPS for the current year.

Salzgitter Company Profile

Salzgitter AG engages in the manufacture of steel and technology products. It operates through the following segments: Strip Steel, Plate and Section Steel, Mannesmann,Trading, and Technology. The Strip Steel segment manufactures hot-rolled strip steel and steel sheet, sections, and tailored blanks. The Plate and Section Steel segment produces a broad spectrum of plate products.

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