Gerdau (NYSE:GGB) Posts Earnings Results

Gerdau (NYSE:GGB) released its quarterly earnings data on Sunday. The basic materials company reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.31), Fidelity Earnings reports. Gerdau had a net margin of 19.01% and a return on equity of 35.05%.

GGB opened at $4.96 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.58 and a quick ratio of 1.32. The company’s 50-day moving average is $5.37 and its 200 day moving average is $5.75. Gerdau has a fifty-two week low of $3.68 and a fifty-two week high of $7.27. The firm has a market capitalization of $8.53 billion, a P/E ratio of 3.94, a PEG ratio of 0.22 and a beta of 1.58.

The company also recently declared a Variable dividend, which will be paid on Tuesday, November 23rd. Investors of record on Thursday, September 30th will be given a dividend of $0.0814 per share. This is a positive change from Gerdau’s previous Variable dividend of $0.01. This represents a dividend yield of 7.2%. The ex-dividend date of this dividend is Wednesday, September 29th. Gerdau’s dividend payout ratio (DPR) is presently 111.11%.

An institutional investor recently raised its position in Gerdau stock. Wells Fargo & Company MN lifted its position in shares of Gerdau S.A. (NYSE:GGB) by 46.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.69% of the company’s stock.

A number of research analysts have weighed in on GGB shares. Scotiabank raised shares of Gerdau from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 7th. Zacks Investment Research lowered shares of Gerdau from a “buy” rating to a “hold” rating in a research note on Tuesday, September 21st. Finally, Credit Suisse Group raised shares of Gerdau from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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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