During the recent session, Gerdau S.A. (NYSE:GGB)’s traded shares were 2.18 million, with the beta value of the company hitting 1.62. At the last check today, the stock’s price was $4.95, reflecting an intraday gain of 3.12% or $0.15. The 52-week high for the GGB share is $6.21, that puts it down -25.45 from that peak though still a striking 26.67% gain since the share price plummeted to a 52-week low of $3.63. The company’s market capitalization is $8.28B, and the average intraday trading volume over the past 10 days was 8.1 million shares, and the average trade volume was 7.80 million shares over the past three months.
Gerdau S.A. (GGB) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. GGB has a Sell rating from 0 analyst(s) out of 15 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.29.
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Gerdau S.A. (NYSE:GGB) trade information
Gerdau S.A. (GGB) registered a 3.12% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.12% in intraday trading to $4.95 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 3.56%, and it has moved by 3.97% in 30 days. Based on these gigs, the overall price performance for the year is -9.88%. The short interest in Gerdau S.A. (NYSE:GGB) is 6.65 million shares and it means that shorts have 1.1 day(s) to cover.
The consensus price target of analysts on Wall Street is $6.79, which implies an increase of 27.1% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.71 and $7.98 respectively. As a result, GGB is trading at a discount of -61.21% off the target high and -15.35% off the low.
Gerdau S.A. (GGB) estimates and forecasts
Statistics show that Gerdau S.A. has outperformed its competitors in share price, compared to the industry in which it operates. Gerdau S.A. (GGB) shares have gone down -3.36% during the last six months, with a year-to-date growth rate more than the industry average at -27.34% against -38.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -12.10% this quarter and then drop -45.80% in the quarter after that. In the rating firms’ projections, revenue will decrease -6.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.06 billion as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $4.03 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.3 billion and $3.99 billion respectively. In this case, analysts expect current quarter sales to shrink by -5.50% and then jump by 1.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 102.50%. While earnings are projected to return -25.80% in 2023, the next five years will return -3.46% per annum.
Gerdau S.A. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Gerdau S.A. is 0.68, with the dividend yield indicating at 14.19 percent, continuing the trend of increasing dividends in recent years.
Gerdau S.A. (NYSE:GGB)’s Major holders
Gerdau S.A. insiders own 0.00% of total outstanding shares while institutional holders control 27.11%, with the float percentage being 27.11%. Capital International Investors is the largest shareholder of the company, while 299 institutions own stock in it. As of Mar 30, 2023, the company held over 95.37 million shares (or 8.25% of all shares), a total value of $471.6 million in shares.
The next largest institutional holding, with 27.53 million shares, is of Acadian Asset Management. LLC’s that is approximately 2.38% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $136.15 million.
Also, the Mutual Funds coming in first place with the largest holdings of Gerdau S.A. (GGB) shares are New Perspective Fund Inc and New World Fund, Inc.. Data provided on Mar 30, 2023 indicates that New Perspective Fund Inc owns about 41.24 million shares. This amounts to just over 3.57 percent of the company’s overall shares, with a $203.95 million market value. The same data shows that the other fund manager holds slightly less at 35.63 million, or about 3.08% of the stock, which is worth about $176.18 million.