Brokerage firm Morgan Stanley Upgrades its rating on Gerdau SA (ADR)(NYSE:GGB). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Aug 18, 2016.
In a different note, On Aug 4, 2016, Credit Suisse said it Upgrades its rating on Gerdau SA (ADR). The shares have been rated ‘Outperform’ by the firm.
Gerdau SA (ADR) (GGB) made into the market gainers list on Mondays trading session with the shares advancing 2.53% or 0.07 points. Due to strong positive momentum, the stock ended at $2.84, which is also near the day’s high of $2.87. The stock began the session at $2.77 and the volume stood at 43,59,019 shares. The 52-week high of the shares is $3.19 and the 52 week low is $0.79. The company has a current market capitalization of $4,878 M and it has 1,71,74,46,900 shares in outstanding.
Gerdau SA (ADR)(GGB) last announced its earnings results on Aug 10, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.28B. Analysts had an estimated revenue of $10.45B. Earnings per share were $0.05. Analysts had estimated an EPS of $0.15.
Gerdau S.A. (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation) which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation) which includes all North American operations except Mexico and special steel; Latin America (Latin America Business Operation) which includes all Latin American operations except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation) which includes the special steel operations in Brazil Spain the United States and India and Iron Ore (Iron Ore Business Operation) which includes the iron ore operations in Brazil. The Company’s mills are located in Argentina Brazil Canada Chile Colombia Spain the United States Guatemala India Mexico Peru the Dominican Republic Uruguay and Venezuela.