GGB Stock Summary and Trading Ideas (Gerdau S.A. | NYSE:GGB)

Gerdau SA produces steel and steel products. The company operates in civil construction, agriculture, automotive, iron ore, exports, research and development, and home steel products sectors. It offers products such as nails, rebar, columns, billets, slabs, tribar tutor, mechanical construction bars, reinforced steel locks. The company's geographical segment includes Brazil Operations; North America Operations; South America Operations as well as Special Steel Operations. It derives majority of the revenue from the North America Operations segment.

Gerdau S.A. trades on the NYSE stock market under the symbol GGB.

As of April 18, 2024, GGB stock price declined to $3.57 with 6,631,855 million shares trading.

GGB has a beta of 1.16, meaning it tends to be more sensitive to market movements. GGB has a correlation of 0.19 to the broad based SPY ETF.

GGB has a market cap of $7.51 billion. This is considered a Mid Cap stock.

Last quarter Gerdau S.A. reported $4 billion in Revenue and $.38 earnings per share. This beat revenue expectation by $162 million and exceeded earnings estimates by $.16.

In the last 3 years, GGB stock traded as high as $7.27 and as low as $3.55.

The top ETF exchange traded funds that GGB belongs to (by Net Assets): ILF, AVEM, SPEM, SLX, VEU.

GGB has underperformed the market in the last year with a price return of -26.2% while the SPY ETF gained +22.3%. GGB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -14.3% and -20.3%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

GGB support price is $4.20 and resistance is $4.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GGB stock will trade within this expected range on the day.