Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down to $24.00

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped down before the market opened on Thursday . The stock had previously closed at $24.00, but opened at $23.00. Grupo Simec shares last traded at $23.00, with a volume of 1 shares trading hands.

Separately, Scotiabank downgraded shares of Grupo Simec from a “sector perform” rating to a “sector underperform” rating in a report on Friday, May 14th.

The stock has a 50 day moving average of $9.64. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.66 and a beta of 0.32.

Grupo Simec (NYSEAMERICAN:SIM) last announced its quarterly earnings results on Friday, April 30th. The basic materials company reported $0.78 earnings per share for the quarter. The firm had revenue of $657.06 million for the quarter. Grupo Simec had a net margin of 13.89% and a return on equity of 19.32%.

About Grupo Simec (NYSEAMERICAN:SIM)

Grupo SIMEC SAB de CV engages in the manufacture, processing and distribution of steel and structural steel products. It operates through the following geographical segments: Mexico, U.S., and Brazil. The Mexico segment represents the results of the operations in Mexico, including plants in Mexicali, Guadalajara, Tlaxcala, and San Luis Potosi.

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