Gerdau SA (NYSE:GGB)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.79 and traded as high as $3.75. Gerdau shares last traded at $3.67, with a volume of 64,791 shares trading hands.
Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, TheStreet lowered shares of TIM Participacoes from a “b” rating to a “c+” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Gerdau currently has an average rating of “Buy” and a consensus price target of $4.50.
The company has a quick ratio of 0.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.36 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 3.28 and a beta of 1.83. The stock’s fifty day moving average price is $3.79.
Gerdau (NYSE:GGB) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). Gerdau had a return on equity of 9.49% and a net margin of 5.03%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.86 billion. As a group, equities analysts anticipate that Gerdau SA will post 0.37 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. acquired a new position in shares of Gerdau in the 1st quarter worth approximately $45,000. Nuveen Asset Management LLC purchased a new stake in Gerdau during the 4th quarter worth approximately $49,000. GSA Capital Partners LLP purchased a new stake in Gerdau during the 4th quarter worth approximately $72,000. First Trust Advisors LP purchased a new stake in Gerdau during the 4th quarter worth approximately $92,000. Finally, NEXT Financial Group Inc increased its stake in Gerdau by 9.5% during the 2nd quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $134,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 7.15% of the company’s stock.
Gerdau Company Profile (NYSE:GGB)
Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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