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

Commercial Metals (NYSE:CMC) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.18 per share by the basic materials company on Wednesday, April 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.56%.

Commercial Metals has raised its dividend by an average of 11.5% per year over the last three years. Commercial Metals has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $4.69 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 15.4%.

Commercial Metals Stock Up 0.3 %

Shares of CMC opened at $46.30 on Wednesday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The business’s 50 day moving average is $48.89 and its 200 day moving average is $52.85. The company has a market capitalization of $5.26 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 EPS. Research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group lowered their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and a consensus target price of $61.83.

Commercial Metals Company Profile

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.