Gerdau (GGB) to Release Earnings on Thursday

Gerdau (NYSE:GGB) will be releasing its earnings data after the market closes on Thursday, May 2nd. Analysts expect Gerdau to post earnings of $0.09 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Thursday, March 28th. The basic materials company reported $0.07 earnings per share for the quarter. Gerdau had a return on equity of 15.05% and a net margin of 10.80%. The business had revenue of $2.97 billion for the quarter. On average, analysts expect Gerdau to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Gerdau Stock Down 2.7 %

GGB opened at $3.56 on Thursday. Gerdau has a 1-year low of $3.42 and a 1-year high of $5.13. The stock’s fifty day simple moving average is $4.28 and its 200 day simple moving average is $4.44. The company has a current ratio of 2.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.20. The stock has a market cap of $7.51 billion, a PE ratio of 5.09 and a beta of 1.73.

Gerdau shares are scheduled to split on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be distributed to shareholders after the market closes on Tuesday, April 30th.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.0202 per share. This represents a $0.08 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, March 4th. Gerdau’s payout ratio is 10.00%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded Gerdau from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $5.00 to $6.00 in a research report on Monday, April 15th.

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.