StockNews.com Lowers Grupo Simec (NYSEAMERICAN:SIM) to Buy

Grupo Simec (NYSEAMERICAN:SIM) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Grupo Simec Trading Down 2.8 %

Shares of NYSEAMERICAN:SIM traded down $0.82 during trading hours on Wednesday, reaching $28.02. The stock had a trading volume of 975 shares, compared to its average volume of 1,076. Grupo Simec has a 1 year low of $26.00 and a 1 year high of $34.29. The company has a market cap of $4.32 billion, a PE ratio of 9.28 and a beta of 0.29.

Grupo Simec (NYSEAMERICAN:SIM) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $1.39 earnings per share (EPS) for the quarter. Grupo Simec had a return on equity of 16.68% and a net margin of 24.90%. The company had revenue of $487.42 million during the quarter.

About Grupo Simec

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.