The price of Gerdau S.A. ADR (NYSE:GGB) shares last traded on Wall Street fell -0.83% to $4.77.
Based on available information, 12 analysts follow Gerdau S.A. ADR (NYSE:GGB). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $7.11 and a low of $5.33, we find $6.42. Given the previous closing price of $4.81, this indicates a potential upside of 33.47 percent. GGB stock price is now -10.10% away from the 50-day moving average and -8.30% away from the 200-day moving average. The market capitalization of the company currently stands at $5.48B.
Among analysts, 4 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $6.33 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. ADR (NYSE: GGB).
A total of 0.00% 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. ADR shares was purchased by EMERGING VARIANT CAPITAL MANAGEMENT LP during the first quarter worth $7,142,000. BTG PACTUAL GLOBAL ASSET MANAGEMENT LTD invested $3,045,000 in shares of GGB during the first quarter. In the first quarter, JENKINS WEALTH acquired a new stake in Gerdau S.A. ADR valued at approximately $1,010,000. IMPACT PARTNERSHIP WEALTH, LLC acquired a new stake in GGB for approximately $530,000. TCW GROUP INC purchased a new stake in GGB valued at around $527,000 in the second quarter. In total, there are 296 active investors with 24.72% ownership of the company’s stock.
A candlestick chart of Gerdau S.A. ADR (NYSE: GGB) showed a price of $4.8350 on Friday morning. During the past 12 months, Gerdau S.A. ADR has had a low of $3.95 and a high of $6.21. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 2.94, and a quick ratio of 1.29. The fifty day moving average price for GGB is $5.2872 and a two-hundred day moving average price translates $5.2541 for the stock.
The latest earnings results from Gerdau S.A. ADR (NYSE: GGB) was released for Jun, 2023. According to the Steel Company, earnings per share came in at $0.24, missing analysts’ expectations of $0.28 by -0.04. This compares to $0.49 EPS in the same period last year. The net profit margin was 12.54% and return on equity was 19.29% for GGB. The company reported revenue of $3.69 billion for the quarter, compared to $4.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.95 percent. For the current quarter, analysts expect GGB to generate $3.52B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/06/2023. Investors who held shares on 08/22/2023 were paid a $0.0878267 dividend. On an annualized basis, this represents a $0.40 dividend and a 8.32% percent yield. There was an ex-dividend date of 08/21/2023 for this dividend. In terms of dividend payout ratio, GGB is presently at 51.14%.
