Gerdau SA (NYSE:GGB) Given Average Rating of “Buy” by Brokerages

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Shares of Gerdau SA (NYSE:GGB) have been assigned an average rating of “Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company.

GGB has been the subject of several recent research reports. TheStreet cut shares of Gerdau from a “b-” rating to a “c+” rating in a research report on Friday, August 30th. ValuEngine raised shares of Gerdau from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th.

Shares of NYSE:GGB traded down $0.07 during mid-day trading on Friday, reaching $3.15. 45,031 shares of the company were exchanged, compared to its average volume of 10,758,406. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 0.95. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 7.93 and a beta of 1.90. The firm’s 50-day simple moving average is $3.16 and its 200 day simple moving average is $3.61. Gerdau has a 1 year low of $2.73 and a 1 year high of $4.71.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Gerdau had a return on equity of 7.97% and a net margin of 4.50%. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.79 billion. On average, research analysts forecast that Gerdau will post 0.3 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of GGB. US Bancorp DE lifted its position in shares of Gerdau by 1,100.6% during the 2nd quarter. US Bancorp DE now owns 11,298 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 10,357 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Gerdau during the 2nd quarter worth $49,000. Wells Fargo & Company MN lifted its position in shares of Gerdau by 2,993.8% during the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 14,999 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Gerdau by 16.8% during the 2nd quarter. Mutual Advisors LLC now owns 27,769 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 3,991 shares during the last quarter. Finally, NEXT Financial Group Inc lifted its position in shares of 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 purchasing an additional 3,000 shares during the last quarter. 8.50% of the stock is owned by institutional investors.

About Gerdau

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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