Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – Here’s Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped down before the market opened on Tuesday . The stock had previously closed at $27.00, but opened at $25.31. Grupo Simec shares last traded at $25.31, with a volume of 149 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Grupo Simec from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th.

Grupo Simec Price Performance

The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.49 and a beta of 0.31.

Grupo Simec (NYSEAMERICAN:SIM) last released its earnings results on Tuesday, October 29th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $452.15 million during the quarter. Grupo Simec had a return on equity of 18.60% and a net margin of 29.44%.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.