The price of Gerdau S.A. (NYSE:GGB) shares last traded on Wall Street rose 3.85% to $4.85.
Based on available information, 15 analysts follow Gerdau S.A. (NYSE:GGB). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.88 and a low of $5.71, we find $6.75. Given the previous closing price of $4.67, this indicates a potential upside of 44.54 percent. GGB stock price is now 1.30% away from the 50-day moving average and -1.22% away from the 200-day moving average. The market capitalization of the company currently stands at $8.21B.
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Among analysts, 4 rate the stock a hold while 11 rate it a buy. Brokers who have rated the stock have averaged $6.92 as their price target over the next twelve months.
With the price target reduced from $7 to $6, JP Morgan Downgraded its rating from Overweight to Neutral for Gerdau S.A. (NYSE: GGB). On November 12, 2021, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $6.10, while ‘Credit Suisse’ rates the stock as ‘Outperform’.
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 CAUSEWAY CAPITAL MANAGEMENT LLC during the first quarter worth $34,260,000. OPTIVER HOLDING B.V. invested $30,699,000 in shares of GGB during the first quarter. In the first quarter, EMERGING VARIANT CAPITAL MANAGEMENT LP acquired a new stake in Gerdau S.A. valued at approximately $7,262,000. BANCO BTG PACTUAL S.A. acquired a new stake in GGB for approximately $4,849,000. WEST TOWER GROUP, LLC purchased a new stake in GGB valued at around $2,483,000 in the second quarter. In total, there are 299 active investors with 21.90% ownership of the company’s stock.
A candlestick chart of Gerdau S.A. (NYSE: GGB) showed a price of $4.7600 on Wednesday morning. During the past 12 months, Gerdau S.A. has had a low of $3.63 and a high of $6.21. As of last week, the company has a debt-to-equity ratio of 0.27, a current ratio of 2.50, and a quick ratio of 1.20. The fifty day moving average price for GGB is $4.8794 and a two-hundred day moving average price translates $5.0398 for the stock.
The latest earnings results from Gerdau S.A. (NYSE: GGB) was released for Mar, 2023. According to the Steel Company, earnings per share came in at $0.28, missing analysts’ expectations of $0.33 by -0.05. This compares to $0.31 EPS in the same period last year. The net profit margin was 14.50% and return on equity was 24.50% for GGB. The company reported revenue of $3.63 billion for the quarter, compared to $3.89 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.64 percent. For the current quarter, analysts expect GGB to generate $4.13B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/30/2023. Investors who held shares on 03/16/2023 were paid a $0.0384386 dividend. On an annualized basis, this represents a $0.68 dividend and a 14.04% percent yield. There was an ex-dividend date of 03/15/2023 for this dividend. In terms of dividend payout ratio, GGB is presently at 264.70%.
Gerdau S.A.(GGB) Company Profile
Gerdau S.A., together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company provides 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; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets. It also offers flat products, such as hot-rolled steel coils and heavy plates; and resells flat steel products. In addition, the company operates three mines that produce iron ore located in the Brazilian state of Minas Gerais. It sells its products through independent distributors, direct sales from the mills, and its retail network. The company was founded in 1901 and is based in São Paulo, Brazil.
