Gerdau (NYSE:GGB) Releases Earnings Results, Misses Estimates By $0.31 EPS

Gerdau (NYSE:GGB) issued its earnings results on Sunday. The basic materials company reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.

Shares of NYSE:GGB opened at $4.96 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $5.75. Gerdau has a 1-year low of $3.68 and a 1-year high of $7.27. The stock has a market cap of $8.53 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.22 and a beta of 1.58.

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

A number of equities analysts recently issued reports on GGB shares. Credit Suisse Group upgraded Gerdau from a “neutral” rating to an “outperform” rating in a report on Thursday, September 9th. Zacks Investment Research cut Gerdau from a “buy” rating to a “hold” rating in a report on Tuesday, September 21st. Finally, Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Gerdau has an average rating of “Buy” and an average target price of $6.25.

An institutional investor recently raised its position in Gerdau stock. Wells Fargo & Company MN raised its stake in shares of Gerdau S.A. (NYSE:GGB) by 46.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,006 shares of the basic materials company’s stock after acquiring 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. 2.69% of the stock is currently owned by institutional investors and hedge funds.

About Gerdau

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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