In the latest trading session, 5.92 million Gerdau S.A. (NYSE:GGB) shares changed hands as the company’s beta touched 1.65. With the company’s most recent per share price at $5.96 changing hands around $0.03 or 0.51% at last look, the market valuation stands at $9.77B. GGB’s current price is a discount, trading about -21.98% off its 52-week high of $7.27. The share price had its 52-week low at $2.72, which suggests the last value was 54.36% up since then. When we look at Gerdau S.A.’s average trading volume, we note the 10-day average is 14.94 million shares, with the 3-month average coming to 20.27 million.
Analysts gave the Gerdau S.A. (GGB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended GGB as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Gerdau S.A.’s EPS for the current quarter is expected to be $0.32.
Gerdau S.A. (NYSE:GGB) trade information
Instantly GGB is in green as seen in intraday trades today. With action -6.32%, the performance over the past five days has been red. The jump to weekly highs of 6.25 on Monday, 06/21/21 added 0.51% to the stock’s daily price. The company’s shares are showing year-to-date upside of 27.59%, with the 5-day performance at -6.32% in the red. However, in the 30-day time frame, Gerdau S.A. (NYSE:GGB) is -9.33% down. Looking at the short shares, we see there were 5.66 million shares sold at short interest cover period of 0.25 days.
The consensus price target for the stock as assigned by Wall Street analysts is $7.58, meaning bulls need an upside of 21.37% from its recent market value. According to analyst projections, GGB’s forecast low is $4.97 with $8.96 as the target high. To hit the forecast high, the stock’s price needs a -50.34% plunge from its current level, while the stock would need to tank 16.61% for it to hit the projected low.
Gerdau S.A. (GGB) estimates and forecasts
Data shows that the Gerdau S.A. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 24.99% over the past 6 months, a 303.70% in annual growth rate that is considerably higher than the industry average of 2.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Gerdau S.A. will rise 1,500.00%, while the growth in revenue is estimated to hit 211.10% for the next quarter. Year-over-year growth is forecast to reach 50.40% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $3.35 billion. 1 analysts are of the opinion that Gerdau S.A.’s revenue for the quarter ending Sep 2021 will be $3.24 billion. The company’s revenue for the corresponding quarters a year ago was $1.54 billion and $2.33 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 117.70%. The estimates for the next quarter sales put growth at 39.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.30%. The 2021 estimates are for Gerdau S.A. earnings to increase by 96.20%, but the outlook for the next 5-year period is at 5.33% per year.
Gerdau S.A. is expected to release its next quarterly earnings report in July. The 2.53% annual yield figure for the share gives it an annual dividend of 0.15. It is important to note, however, that the 2.53% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.38 per year.
Gerdau S.A. (NYSE:GGB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of Gerdau S.A. shares while 23.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 23.19%. There are 23.19% institutions holding the Gerdau S.A. stock share, with Capital International Investors the top institutional holder. As of Mar 30, 2021, the company held 10.82% of the shares, roughly 123.95 million GGB shares worth $661.92 million.
JP Morgan Chase & Company holds the second largest percentage of outstanding shares, with 1.79% or 20.51 million shares worth $109.51 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were New Perspective Fund Inc and New World Fund, Inc. With 68.78 million shares estimated at $367.26 million under it, the former controlled 6.00% of total outstanding shares. On the other hand, New World Fund, Inc. held about 3.65% of the shares, roughly 41.78 million shares worth around $223.12 million.