Gerdau S.A. (NYSE:GGB) shares traded 1.79% higher at $5.69 on Wall Street last session.
In accordance with the data, 13 analysts cover Gerdau S.A. (NYSE:GGB). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $8.33 and a low of $5.69, we find $6.71. Given the previous closing price of $5.59, this indicates a potential upside of 20.04 percent. GGB stock price is now 14.69% away from the 50-day moving average and 10.47% away from the 200-day moving average. The market capitalization of the company currently stands at $9.08B.
It has been rated a hold by 2 analysts and a buy by 11. Brokers who have rated the stock have averaged $6.81 as their price target over the next twelve months.
With the price target maintained at $6.10, Citigroup recently Upgraded its rating from Neutral to Buy for Gerdau S.A. (NYSE: GGB)., while ‘Goldman’ rates the stock as ‘Neutral’.
A total of 32.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GGB stock. A new stake in Gerdau S.A. shares was purchased by MARSHALL WACE, LLP during the first quarter worth $12,575,000. MAN GROUP PLC invested $10,649,000 in shares of GGB during the first quarter. In the first quarter, INDUS CAPITAL PARTNERS, LLC acquired a new stake in Gerdau S.A. valued at approximately $2,695,000. NATIXIS ADVISORS, L.P. acquired a new stake in GGB for approximately $2,192,000. HIGHTOWER ADVISORS, LLC purchased a new stake in GGB valued at around $851,000 in the second quarter. In total, there are 253 active investors with 21.90% ownership of the company’s stock.
Gerdau S.A. (NYSE: GGB) opened at $5.59 on Monday. During the past 12 months, Gerdau S.A. has had a low of $3.94 and a high of $6.48. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 2.30, and a quick ratio of 1.10. The fifty day moving average price for GGB is $4.96 and a two-hundred day moving average price translates $5.19 for the stock.
The latest earnings results from Gerdau S.A. (NYSE: GGB) was released for Jun, 2022. According to the Steel Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.43 by 0.04. This compares to $0.63 EPS in the same period last year. The net profit margin was 16.00% and return on equity was 30.30% for GGB. The company reported revenue of $4.04 billion for the quarter, compared to $4.08 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.1 percent. For the current quarter, analysts expect GGB to generate $3.82B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2022. Investors who held shares on 08/17/2022 were paid a $0.1372614 dividend. On an annualized basis, this represents a $0.71 dividend and a 12.53% percent yield. There was an ex-dividend date of 08/16/2022 for this dividend. In terms of dividend payout ratio, GGB is presently at 281.60%.
Gerdau S.A.(GGB) Company Profile
Gerdau S.A. provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps. The company also produces special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets. In addition, it offers flat products, including hot rolled coils and heavy plates; and resells flat steel products, as well as mines and produces iron ore. It sells its products through independent distributors, direct sales from the mills, and through its retail network. The company was founded in 1901 and is based in Sao Paulo, Brazil.