Posted by admin on May 15th, 2022

Equities analysts expect that Gerdau S.A. (NYSE:GGB – Get Rating) will report earnings per share (EPS) of $0.45 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Gerdau’s earnings. Gerdau reported earnings per share of $0.26 during the same quarter last year, which would suggest a positive year-over-year growth rate of 73.1%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Gerdau will report full year earnings of $1.57 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.67. For the next year, analysts expect that the business will post earnings of $0.81 per share, with EPS estimates ranging from $0.70 to $0.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gerdau.

Separately, Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “strong-buy” rating and set a $6.00 price objective for the company in a research note on Thursday, January 20th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gerdau currently has an average rating of “Buy” and an average price target of $6.05.

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Gerdau by 46.1% during the second quarter. Wells Fargo & Company MN now owns 46,006 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 14,514 shares during the period. Morgan Stanley lifted its holdings in shares of Gerdau by 272.3% during the second quarter. Morgan Stanley now owns 8,285,048 shares of the basic materials company’s stock valued at $48,881,000 after acquiring an additional 6,059,718 shares during the period. Raymond James & Associates lifted its holdings in shares of Gerdau by 41.2% during the third quarter. Raymond James & Associates now owns 45,589 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 13,293 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Gerdau by 22.6% during the third quarter. Advisory Services Network LLC now owns 20,232 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 3,736 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Gerdau by 45.2% during the third quarter. Panagora Asset Management Inc. now owns 647,974 shares of the basic materials company’s stock valued at $3,188,000 after acquiring an additional 201,696 shares during the period.

NYSE:GGB opened at $5.47 on Friday. The firm has a 50 day simple moving average of $5.92 and a 200-day simple moving average of $5.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.43 and a quick ratio of 1.12. Gerdau has a 1-year low of $4.19 and a 1-year high of $6.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Wednesday, May 18th will be given a dividend of $0.116 per share. This represents a $0.46 annualized dividend and a yield of 8.48%. The ex-dividend date is Tuesday, May 17th. This is a positive change from Gerdau’s previous quarterly dividend of $0.04. Gerdau’s dividend payout ratio (DPR) is presently 9.52%.

Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.

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