Gerdau (GGB) to Release Quarterly Earnings on Monday

Gerdau (NYSE:GGB) will release its earnings data before the market opens on Monday, November 6th. Analysts expect Gerdau to post earnings of $0.17 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Gerdau (NYSE:GGB) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.79 billion. Gerdau had a return on equity of 19.91% and a net margin of 12.56%. On average, analysts expect Gerdau to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Gerdau Stock Up 1.7 %

NYSE:GGB opened at $4.67 on Friday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 4.19 and a beta of 1.73. Gerdau has a 1-year low of $4.20 and a 1-year high of $6.34. The company’s fifty day moving average price is $4.74 and its 200-day moving average price is $5.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.94 and a quick ratio of 1.29.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 22nd were paid a $0.0878 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 7.52%. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s dividend payout ratio is presently 46.69%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered shares of Gerdau from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 21st.

Institutional Trading of Gerdau

Several institutional investors have recently modified their holdings of GGB. Envestnet Asset Management Inc. grew its position in shares of Gerdau by 91.2% in the first quarter. Envestnet Asset Management Inc. now owns 52,892 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 25,222 shares during the period. Raymond James & Associates grew its position in shares of Gerdau by 146.8% in the first quarter. Raymond James & Associates now owns 125,431 shares of the basic materials company’s stock valued at $807,000 after purchasing an additional 74,615 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Gerdau by 160.9% in the first quarter. Bank of New York Mellon Corp now owns 120,578 shares of the basic materials company’s stock worth $775,000 after buying an additional 74,364 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Gerdau by 13.4% in the first quarter. American Century Companies Inc. now owns 320,968 shares of the basic materials company’s stock worth $2,064,000 after buying an additional 38,002 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Gerdau in the first quarter worth about $69,000. Institutional investors and hedge funds own 2.64% of the company’s stock.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company provides 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; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.