Gerdau (NYSE:GGB) Releases Earnings Results, Hits Expectations

Gerdau (NYSE:GGB) posted its earnings results on Wednesday. The basic materials company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06, Zacks reports. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a return on equity of 7.86% and a net margin of 7.47%.

Gerdau Stock Performance

NYSE:GGB opened at $3.05 on Thursday. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.33 billion, a P/E ratio of 6.64 and a beta of 1.73. The firm has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $3.19. Gerdau has a twelve month low of $2.67 and a twelve month high of $4.04.

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.