Gerdau (NYSE:GGB) issued its earnings results on Sunday. The basic materials company reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.31), Fidelity Earnings reports. Gerdau had a return on equity of 35.05% and a net margin of 19.01%.
NYSE GGB traded down $0.07 during trading on Tuesday, reaching $4.89. 8,048,437 shares of the company’s stock were exchanged, compared to its average volume of 12,918,218. The company’s fifty day simple moving average is $5.37 and its 200-day simple moving average is $5.75. The company has a current ratio of 2.58, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. Gerdau has a fifty-two week low of $3.74 and a fifty-two week high of $7.27. The firm has a market capitalization of $8.41 billion, a PE ratio of 3.94, a P/E/G ratio of 0.22 and a beta of 1.58.
The company also recently announced a Variable dividend, which will be paid on Tuesday, November 23rd. Investors of record on Thursday, September 30th will be paid a dividend of $0.0814 per share. The ex-dividend date is Wednesday, September 29th. This represents a yield of 7.2%. This is a boost from Gerdau’s previous Variable dividend of $0.01. Gerdau’s dividend payout ratio (DPR) is currently 111.11%.
Several equities research analysts recently issued reports on GGB shares. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 7th. Zacks Investment Research lowered Gerdau from a “buy” rating to a “hold” rating in a research note on Tuesday, September 21st. Finally, Credit Suisse Group upgraded Gerdau from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.25.
Gerdau Company Profile
Gerdau SA engages in the production and commercialization of steel products. It operates through 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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