Commercial Metals Plans Quarterly Dividend of $0.18 (NYSE:CMC)

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 16th will be given a dividend of 0.18 per share by the basic materials company on Thursday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, January 16th.

Commercial Metals has increased its dividend by an average of 11.9% annually over the last three years. Commercial Metals has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $5.37 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 13.4%.

Commercial Metals Price Performance

NYSE:CMC opened at $48.52 on Tuesday. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.74 and a beta of 1.19. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The business has a 50 day simple moving average of $56.35 and a 200-day simple moving average of $54.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the business posted $1.49 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on CMC shares. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Morgan Stanley started coverage on Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and a consensus target price of $63.83.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.