Gerdau (GGB) to Release Earnings on Thursday

Gerdau (NYSE:GGB) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Gerdau to post earnings of $0.09 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Thursday, March 28th. The basic materials company reported $0.07 earnings per share for the quarter. Gerdau had a net margin of 10.80% and a return on equity of 15.05%. The firm had revenue of $2.97 billion for the quarter. On average, analysts expect Gerdau to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Gerdau Stock Down 2.7 %

GGB opened at $3.56 on Thursday. Gerdau has a fifty-two week low of $3.42 and a fifty-two week high of $5.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.59 and a quick ratio of 1.24. The firm’s fifty day moving average price is $4.28 and its two-hundred day moving average price is $4.44. The company has a market capitalization of $7.51 billion, a P/E ratio of 5.09 and a beta of 1.73.

Gerdau shares are scheduled to split on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, April 30th.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.0202 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.08 dividend on an annualized basis and a yield of 2.27%. Gerdau’s dividend payout ratio is currently 10.00%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.00 to $6.00 in a research note on Monday, April 15th.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.