Shares of Gerdau SA (NYSE:GGB) have been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company.
A number of analysts have commented on the company. Zacks Investment Research downgraded Gerdau from a “buy” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group assumed coverage on Gerdau in a research report on Thursday, December 13th. They issued a “buy” rating for the company. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 18th. Finally, HSBC upgraded Gerdau from a “hold” rating to a “buy” rating in a research report on Monday, September 17th.
NYSE:GGB traded down $0.04 during mid-day trading on Monday, hitting $4.14. 18,203,928 shares of the company’s stock traded hands, compared to its average volume of 11,394,838. Gerdau has a 12 month low of $3.37 and a 12 month high of $5.32. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 46.00, a PEG ratio of 0.33 and a beta of 1.96. The company has a quick ratio of 1.43, a current ratio of 2.42 and a debt-to-equity ratio of 0.60.
Gerdau (NYSE:GGB) last announced its earnings results on Wednesday, November 7th. The basic materials company reported $0.15 earnings per share for the quarter. Gerdau had a return on equity of 9.41% and a net margin of 0.80%. The firm had revenue of $3.26 billion during the quarter. Analysts anticipate that Gerdau will post 0.42 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in GGB. Crossmark Global Holdings Inc. boosted its position in Gerdau by 16.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 93,019 shares of the basic materials company’s stock valued at $392,000 after buying an additional 12,980 shares during the last quarter. HRT Financial LLC bought a new position in Gerdau in the 2nd quarter valued at $177,000. Verde Servicos Internacionais S.A. bought a new position in Gerdau in the 3rd quarter valued at $213,000. Northern Trust Corp boosted its position in Gerdau by 7.7% in the 2nd quarter. Northern Trust Corp now owns 969,501 shares of the basic materials company’s stock valued at $3,432,000 after buying an additional 69,268 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Gerdau by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,063,258 shares of the basic materials company’s stock valued at $8,687,000 after buying an additional 72,739 shares during the last quarter. 5.41% of the stock is owned by hedge funds and other institutional investors.
Gerdau SA engages in the production and commercialization of steel products. It operates throuh the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs, wire rod, structural shapes, and iron ore.
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