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

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

Grupo Simec Stock Up 3.2 %

SIM traded up $0.86 during midday trading on Wednesday, reaching $27.96. 204 shares of the company’s stock were exchanged, compared to its average volume of 1,054. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 9.26 and a beta of 0.29. Grupo Simec has a one year low of $26.00 and a one year high of $34.29.

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