Salzgitter (OTCMKTS:SZGPY) Price Target Cut to €28.60 by Analysts at Credit Suisse Group

Salzgitter (OTCMKTS:SZGPYGet Rating) had its target price dropped by Credit Suisse Group from €30.00 ($31.25) to €28.60 ($29.79) in a research report issued on Thursday, The Fly reports. The firm presently has an “underperform” rating on the basic materials company’s stock.

SZGPY has been the subject of several other reports. Morgan Stanley increased their price objective on shares of Salzgitter from €41.50 ($43.23) to €43.00 ($44.79) in a research report on Monday, April 11th. JPMorgan Chase & Co. lowered their price objective on Salzgitter from €45.00 ($46.88) to €44.00 ($45.83) in a research report on Tuesday, May 17th. Kepler Capital Markets raised Salzgitter from a “hold” rating to a “buy” rating and set a €50.00 ($52.08) price objective on the stock in a research note on Wednesday, February 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Salzgitter from €35.00 ($36.46) to €42.00 ($43.75) in a research note on Thursday, March 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.52.

OTCMKTS SZGPY traded up $0.04 on Thursday, reaching $3.25. The company had a trading volume of 4,010 shares, compared to its average volume of 2,373. Salzgitter has a fifty-two week low of $2.90 and a fifty-two week high of $5.16. The business has a 50 day moving average of $4.07 and a two-hundred day moving average of $3.90.

Salzgitter (OTCMKTS:SZGPYGet Rating) last released its quarterly earnings results on Thursday, May 12th. The basic materials company reported $0.76 EPS for the quarter. Salzgitter had a return on equity of 25.29% and a net margin of 7.73%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.19 billion. Research analysts expect 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.

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