Gerdau SA Plans None Dividend of $0.01 (NYSE:GGB)

Gerdau SA (NYSE:GGB) declared a None dividend on Wednesday, February 19th, Zacks reports. Shareholders of record on Tuesday, March 3rd will be paid a dividend of 0.006 per share by the basic materials company on Wednesday, March 18th. The ex-dividend date is Monday, March 2nd.

Gerdau has increased its dividend payment by an average of 38.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Gerdau has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gerdau to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 7.7%.

Gerdau stock traded down $0.11 during trading hours on Friday, reaching $4.34. The company had a trading volume of 218,009 shares, compared to its average volume of 11,981,575. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.13 and a quick ratio of 1.03. The company has a 50-day moving average price of $4.93 and a 200 day moving average price of $3.88. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 1.75 and a beta of 2.01. Gerdau has a 12-month low of $2.73 and a 12-month high of $5.34.

A number of equities analysts have commented on GGB shares. Zacks Investment Research raised Gerdau from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Saturday, January 4th. ValuEngine cut Gerdau from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. Scotiabank cut Gerdau from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, January 22nd. Morgan Stanley cut Gerdau from an “overweight” rating to an “equal weight” rating in a research note on Friday, January 24th. Finally, TheStreet upgraded Gerdau from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $5.75.

About Gerdau

Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.

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Dividend History for Gerdau (NYSE:GGB)

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