Shares of Gerdau S.A. (NYSE:GGB – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $5.2833.
Several equities analysts recently commented on GGB shares. JPMorgan Chase & Co. boosted their price objective on shares of Gerdau from $5.50 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. UBS Group restated a “buy” rating and set a $5.25 price target (up from $4.60) on shares of Gerdau in a research report on Wednesday, April 29th. Itau BBA Securities raised shares of Gerdau from a “market perform” rating to an “outperform” rating and set a $4.60 price target on the stock in a report on Wednesday, April 1st. Scotiabank raised shares of Gerdau from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a research report on Wednesday, June 24th.
Check Out Our Latest Research Report on Gerdau
Insider Transactions at Gerdau
Institutional Investors Weigh In On Gerdau
Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Gerdau by 68.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock worth $28,000 after buying an additional 3,931 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Gerdau by 95.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 5,216 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gerdau during the 3rd quarter worth $34,000. Coldstream Capital Management Inc. purchased a new position in Gerdau in the third quarter worth $37,000. Finally, Greenspring Advisors LLC purchased a new position in Gerdau in the fourth quarter worth $40,000. 1.49% of the stock is currently owned by institutional investors.
Gerdau Stock Down 1.7%
GGB opened at $4.72 on Friday. Gerdau has a 12 month low of $2.83 and a 12 month high of $4.98. The company has a market cap of $9.44 billion, a PE ratio of 29.50 and a beta of 1.50. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $4.51 and a 200 day moving average of $4.19.
Gerdau (NYSE:GGB – Get Free Report) last issued its earnings results on Tuesday, April 28th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.36 billion. Gerdau had a net margin of 2.40% and a return on equity of 6.76%. On average, sell-side analysts expect that Gerdau will post 0.53 EPS for the current year.
Gerdau Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Friday, May 15th were paid a $0.0361 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.14 dividend on an annualized basis and a yield of 3.1%. This is an increase from Gerdau’s previous quarterly dividend of $0.02. Gerdau’s dividend payout ratio is currently 75.00%.
Gerdau Company Profile
Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.
The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.
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