Gerdau (NYSE:GGB) Issues Earnings Results

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%.

A hedge fund recently raised its stake in Gerdau stock. Wells Fargo & Company MN boosted its holdings in Gerdau S.A. (NYSE:GGB) by 46.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,006 shares of the basic materials company’s stock after purchasing an additional 14,514 shares during the period. Wells Fargo & Company MN’s holdings in Gerdau were worth $272,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.69% of the company’s stock.

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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Earnings History for Gerdau (NYSE:GGB)

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