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

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Investors of record on Monday, July 1st will be paid a dividend of 0.18 per share by the basic materials company on Wednesday, July 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, July 1st.

Commercial Metals has raised its dividend by an average of 10.1% annually over the last three years. Commercial Metals has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $5.64 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 12.8%.

Commercial Metals Stock Up 2.8 %

Shares of Commercial Metals stock opened at $54.98 on Friday. The company has a quick ratio of 2.83, a current ratio of 4.24 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81. The business has a fifty day simple moving average of $54.59 and a 200 day simple moving average of $53.57. The stock has a market cap of $6.32 billion, a PE ratio of 11.45 and a beta of 1.27.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. Research analysts predict that Commercial Metals will post 4.71 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America decreased their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets boosted their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Commercial Metals presently has a consensus rating of “Hold” and an average price target of $60.50.

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.