Gerdau (NYSE:GGB) Announces Earnings Results, Hits Estimates

Gerdau (NYSE:GGB) released its quarterly earnings results on Wednesday. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06, Zacks reports. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.66 billion.

Gerdau Price Performance

GGB stock opened at $2.89 on Friday. Gerdau has a 1 year low of $2.67 and a 1 year high of $4.04. The company has a market cap of $6.02 billion, a P/E ratio of 6.73 and a beta of 1.73. The firm has a 50-day moving average of $2.96 and a 200 day moving average of $3.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also 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.