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%.
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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