Gerdau Reaches New 1-Year Low at $5.50 (GGB)
Gerdau (NYSE:GGB) shares reached a new 52-week low during trading on Wednesday , Analyst Ratings Network reports. The company traded as low as $5.50 and last traded at $5.60, with a volume of 4,636,043 shares. The stock had previously closed at $5.74.
Separately, analysts at JPMorgan Chase & Co. downgraded shares of Gerdau from an “overweight” rating to a “neutral” rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy”.
The stock’s 50-day moving average is $6.0 and its 200-day moving average is $6.23. The company has a market cap of $9.528 billion and a P/E ratio of 12.56. Gerdau also was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 19,627,914 shares, an increase of 94.6% from the July 15th total of 10,084,880 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 6,581,924 shares, the short-interest ratio is currently 3.0 days.
Gerdau (NYSE:GGB) last released its earnings data on Wednesday, July 30th. The company reported $0.09 EPS for the quarter. Analysts expect that Gerdau will post $0.97 EPS for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Monday, August 11th will be paid a dividend of $0.027 per share. The ex-dividend date is Tuesday, August 12th.
Gerdau SA (NYSE:GGB) is a producer of long rolled steel.
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