Gerdau S.A. ADR (NYSE: GGB) Could See Prices Soar In The Coming Months

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In the last trading session, 7.11 million shares of the Gerdau S.A. ADR (NYSE:GGB) were traded, and its beta was 1.75. Most recently the company’s share price was $4.43, and it changed around $0.03 or 0.68% from the last close, which brings the market valuation of the company to $5.09B. GGB currently trades at a discount to its 52-week high of $6.04, offering almost -36.34% off that amount. The share price’s 52-week low was $4.11, which indicates that the current value has risen by an impressive 7.22% since then. We note from Gerdau S.A. ADR’s average daily trading volume that its 10-day average is 5.08 million shares, with the 3-month average coming to 6.12 million.

Gerdau S.A. ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.91. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended GGB as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Gerdau S.A. ADR is expected to report earnings per share of $0.13 for the current quarter.

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Gerdau S.A. ADR (NYSE:GGB) trade information

Instantly GGB has showed a green trend with a performance of 0.68% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -8.66% year-to-date, but still up 3.02% over the last five days. On the other hand, Gerdau S.A. ADR (NYSE:GGB) is -1.34% down in the 30-day period. We can see from the shorts that 2.94 million shares have been sold at a short interest cover period of 0.29 day(s).

The consensus price target as assigned by Wall Street analysts is $8.71, which translates to bulls needing to increase their stock price by 49.14% from its current value. Analyst projections state that GGB is forecast to be at a low of $8.707482993197278 and a high of $8.707482993197278.

Gerdau S.A. ADR (GGB) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -53.60% in revenue this quarter, and will report a decrease of -41.70% in the next quarter. The year-over-year growth rate is expected to be -2.80%, down from the previous year.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.49%. Gerdau S.A. ADR earnings are expected to increase by -42.03% in 2024, but the outlook is negative -3.46% per year for the next five years.

GGB Dividends

Gerdau S.A. ADR’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 2.40 percent and its annual dividend per share was 0.11. It is important to note, however, that the 2.40% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Gerdau S.A. ADR (NYSE:GGB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.00% of Gerdau S.A. ADR shares, and 25.07% of them are in the hands of institutional investors. The stock currently has a share float of 25.07%. Gerdau S.A. ADR stock is held by 259 institutions, with Capital International Investors being the largest institutional investor. By Jun 29, 2023, it held 8.49% of the shares, which is about 98.25 million shares worth $512.84 million.

Acadian Asset Management. LLC, with 2.28% or 26.4 million shares worth $137.78 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

New Perspective Fund Inc and New World Fund, Inc. were the top two Mutual Funds as of Jun 29, 2023. The former held 41.24 million shares worth $215.29 million, making up 3.57% of all outstanding shares. On the other hand, New World Fund, Inc. held roughly 36.41 million shares worth around $223.92 million, which represents about 3.15% of the total shares outstanding.