|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.7900 - 1.8850|
|52 Week Range||1.5100 - 3.8600|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||2.07|
|Forward Dividend & Yield||0.38 (20.57%)|
|Ex-Dividend Date||Apr 29, 2022|
|1y Target Est||3.80|
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Brazilian steelmaker Usiminas reported a 77% drop in second-quarter net income from a year earlier, broadly in line with analyst expectations, after currency swings eroded revenues and output disruption reduced sales. The company, formally known as Usinas Siderurgicas de Minas Gerais SA, said in a securities filing it made a net profit of 1.06 billion reais ($204.48 million) in the period, almost matching a Refinitiv poll forecast of 1.05 billion reais. Net revenue totaled 8.53 billion reais, down 11% year-on-year but beating the 8.34 billion forecast by analysts.
Usinas Siderurgicas de Minas Gerais SA (USNZY) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.