In the last trading session, 4.51 million Gerdau S.A. (NYSE:GGB) shares changed hands as the company’s beta touched 1.64. With the company’s per share price at $5.14 changed hands at -$0.1 or -1.91% during last session, the market valuation stood at $8.89B. GGB’s last price was a discount, traded about -20.82% off its 52-week high of $6.21. The share price had its 52-week low at $3.95, which suggests the last value was 23.15% up since then. When we look at Gerdau S.A.’s average trading volume, we note the 10-day average is 6.45 million shares, with the 3-month average coming to 6.71 million.
Analysts gave the Gerdau S.A. (GGB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 13 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, 9 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 $0.26.
Gerdau S.A. (NYSE:GGB) trade information
Instantly GGB was in red as seen at the end of in last trading. With action -0.19%, the performance over the past five days has been red. The drop to weekly highs of 5.29 on Monday, 09/18/23 subtracted -1.91% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.56%, with the 5-day performance at -0.19% in the red. However, in the 30-day time frame, Gerdau S.A. (NYSE:GGB) is 0.78% up. Looking at the short shares, we see there were 11.59 million shares sold at short interest cover period of 1.4 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.62, meaning bulls need an upside of 22.36% from its current market value. According to analyst projections, GGB’s forecast low is $5.33 with $7.95 as the target high. To hit the forecast high, the stock’s price needs a -54.67% plunge from its current level, while the stock would need to soar -3.7% 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 15.73% over the past 6 months, a -22.66% in annual growth rate that is considerably higher than the industry average of -30.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Gerdau S.A. will fall -45.80%, while the growth in revenue is estimated to hit -52.60% for the next quarter. Year-over-year growth is forecast to reach -8.00% down 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 $4.08 billion. 1 analysts are of the opinion that Gerdau S.A.’s revenue for the quarter ending Dec 2023 will be $3.75 billion. The company’s revenue for the corresponding quarters a year ago was $3.99 billion and $3.59 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.20%. The estimates for the next quarter sales put growth at 4.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 102.50%. The 2023 estimates are for Gerdau S.A. earnings to decrease by -25.80%, but the outlook for the next 5-year period is at -3.46% per year.
Gerdau S.A. is expected to release its next quarterly earnings report in October. The 12.26% annual yield figure for the share gives it an annual dividend of 0.63. It is important to note, however, that the 12.26% 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.
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 27.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 27.76%. There are 27.76% institutions holding the Gerdau S.A. stock share, with Capital International Investors the top institutional holder. As of Jun 29, 2023, the company held 8.49% of the shares, roughly 98.25 million GGB shares worth $512.84 million.
Acadian Asset Management. LLC holds the second largest percentage of outstanding shares, with 2.28% or 26.4 million shares worth $137.78 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were New Perspective Fund Inc and New World Fund, Inc. With 41.24 million shares estimated at $215.29 million under it, the former controlled 3.57% of total outstanding shares. On the other hand, New World Fund, Inc. held about 3.15% of the shares, roughly 36.41 million shares worth around $190.06 million.