Gerdau (GGB) Shares Gap Down to $4.18

Gerdau SA (NYSE:GGB) gapped down prior to trading on Friday . The stock had previously closed at $4.34, but opened at $4.18. Gerdau shares last traded at $4.14, with a volume of 18203926 shares trading hands.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Gerdau from a “buy” rating to a “hold” rating in a research note on Tuesday. Scotiabank raised shares of Gerdau from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 18th. Goldman Sachs Group assumed coverage on shares of Gerdau in a research note on Thursday, December 13th. They issued a “buy” rating on the stock. Finally, HSBC raised shares of Gerdau from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Gerdau has a consensus rating of “Buy” and an average price target of $4.50.

The company has a market cap of $7.38 billion, a P/E ratio of 46.00, a PEG ratio of 0.33 and a beta of 1.96. The company has a current ratio of 2.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.60.



Gerdau (NYSE:GGB) last released its earnings results on Wednesday, November 7th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $3.26 billion for the quarter. Gerdau had a net margin of 0.80% and a return on equity of 9.41%. As a group, research analysts anticipate that Gerdau SA will post 0.42 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. HRT Financial LLC purchased a new position in Gerdau in the 2nd quarter valued at about $177,000. Verde Servicos Internacionais S.A. purchased a new position in Gerdau in the 3rd quarter valued at about $213,000. Crossmark Global Holdings Inc. lifted its holdings in Gerdau by 16.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 93,019 shares of the basic materials company’s stock valued at $392,000 after purchasing an additional 12,980 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Gerdau by 211.9% in the 3rd quarter. Hsbc Holdings PLC now owns 168,251 shares of the basic materials company’s stock valued at $708,000 after purchasing an additional 114,303 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in Gerdau in the 3rd quarter valued at about $1,095,000. Institutional investors own 5.41% of the company’s stock.

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Gerdau Company Profile (NYSE:GGB)

Gerdau SA engages in the production and commercialization of steel products. It operates throuh the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs, wire rod, structural shapes, and iron ore.

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