Gerdau S.A. (NYSE:GGB) does about 13.55M shares in volume on a normal day but saw 6170997 shares change hands in Monday trading. The company now has a market cap of 9.90B USD. Its current market price is $6.29, marking a decrease of -2.02% compared to the previous close of $6.42. The 52 week high reached by this stock is $6.66 whilst the lowest price level in 52 weeks is $3.89. The script in recent trading has seen the stock touch a high of $6.43 and a low of $6.265.
Gerdau S.A. (GGB) has a 20-day trading average at $5.96 and the current price is -5.48% off the 52-week high compared with 61.89% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.85 and its 200-day simple moving average is $5.24. If we look at the stock’s price movements over the week, volatility stands at 2.33%, which increases to 2.75% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 61.59 to suggest the stock is neutral.
13 analysts observing the Gerdau S.A. (GGB) stock have set the 12-month price targets for the company’s shares at between $5.89 and $8.08. The consensus objective for the share price is $7.45, suggesting that the stock has a potential upside of 15.57% over the period. The median price target is 11.9% away from the current levels at $7.14.
FactSet Research has provided data showing that 13 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 11 analysts have rated it as a buy and 2 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 12, 2021 when Citigroup upgraded the stock to “Buy” and issued a price target of $6.10.
The current price level is 5.92%, 8.24%, and 21.75% away from its SMA20, SMA50, and SMA200 respectively, with the GGB price moving below the 50-day SMA on January 23. Gerdau S.A. (GGB) stock is down -1.56% over the week and 7.52% over the past month. Its price is 13.54% year-to-date and 24.86% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.38 above consensus estimates by $0.02. The company’s next earnings report is expected on 05/04/2023, with forecasts estimating quarterly EPS at $0.34 and $1.54 for whole year. GGB’s earnings per share are forecast to grow by 1.30% this year and -44.80% over next year. In addition, estimates put the company’s current quarterly revenue at an average of $3.83 billion.
Its 12-month price target is $7.14. To reach the target analysts have set, the stock logically needs to grow 15.57 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $5.89, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $8.08.
Outstanding shares total 1.69B with insiders holding 0.00% of the shares and institutional holders owning 22.11% of the company’s common stock. The company has a return on investment of 29.70% and return on equity of 30.30%. The price to earnings ratio (P/E ratio) amounts to 4.02 while the forward price to earnings ratio is 7.40. The beta has a value of 1.54. Price to book ratio is 1.12 and price to sales ratio is 0.60.
According to a U.S. Securities and Exchange Commission filing, American Funds New Perspective Fu has reduced its position in Gerdau S.A. (GGB) to 39,279,148 shares, mirroring a recent drop by -8.06%. American Funds New Perspective Fu dumped -3.44 million shares of Gerdau S.A. common stock bringing its total worth to about $217.61 million at the end of recent close, SEC documents show. American Funds New Perspective Fu isn’t the only investment manager who changed stakes and is followed by American Funds New World Fund, which added 11.25 million shares to end up with 33,931,584 shares worth $187.98 million. CIF – Capital Group New Perspecti cut their holdings by -6.28% in the company over the course of the most recent quarter. It now holds a 0.44% position in Gerdau S.A. thanks to 4.8 million shares amounting to $26.6 million.