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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped down before the market opened on Thursday . The stock had previously closed at $27.15, but opened at $25.50. Grupo Simec shares last traded at $28.04, with a volume of 1,254 shares changing hands.

Wall Street Analyst Weigh In

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

Grupo Simec Stock Down 0.4 %

The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 7.89 and a beta of 0.31.

Grupo Simec (NYSEAMERICAN:SIM) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $1.00 EPS for the quarter. Grupo Simec had a net margin of 29.44% and a return on equity of 18.62%. The business had revenue of $452.15 million for the quarter.

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.