Boston, MA 05/22/2014 (wallstreetpr) – Gerdau SA (ADR) (NYSE:GGB) on May 13, 2014 announced the quarterly dividend of the company. On-record investors will be paid this dividend at a price of 0.0317 per share on June 6, 2014. This represented that the annualised dividend of the company was $0.13, and its dividend yield was 1.94%. The ex-dividend will be paid off on May 22, 2014.
Rating Of The Research Analysts
Various research firms gave their rating on Gerdau SA (ADR) (NYSE:GGB). The research analysts at Zack’s reiterated the rating to “Neutral.” The price target of Zack’s is now $6.75 on the stock. Also, the research analysts at JPMorgan Chase & Co. gave their rating to Gerdau SA. The upgraded the shares to “Overweight” rating from the earlier “Neutral” rating. The Bank of America’s analysts, in the meanwhile, gave a “Buy” rating to the company from its previous “Neutral” rating. Two analysts gave a “Hold” rating to the stock of the company while six gave a “Buy” rating to it. On average, the rating of the company is “Buying” and its consensus target price is $6.75.
Economic Statistics Of The Company Also Revealed
Gerdau SA (ADR) (NYSE:GGB) also revealed its economic statistics. The economic statistics stands as of March 2014. The officials at the company revealed that the there was a decrease in the shipment of steel by 3.7% in the first quarter of the present financial year, in comparison to the same quarter of the previous year. In the Q1 2014, the shipment of steel of Gerdau SA stood at 4.4 million.
The net sales of the company were R$ 10.6 billion, an increase of 15.1% from the previous year. The overall performance, as revealed in the economic statistics of the company, was better in 2014 as of now. This happened because of good business done by the company in different Gerdau SA- operated regions, apart from only North America.
