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

Commercial Metals (NYSE:CMC) declared 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 dividend on an annualized basis and a dividend yield of 1.43%.

Commercial Metals has increased its dividend payment by an average of 10.1% per year over the last three years. Commercial Metals has a dividend payout ratio of 19.3% 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 Stock Performance

Commercial Metals stock traded up $0.60 on Thursday, reaching $50.20. 20,740 shares of the stock were exchanged, compared to its average volume of 869,368. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. Commercial Metals has a twelve month low of $47.42 and a twelve month high of $64.53. The firm has a fifty day moving average price of $57.18 and a two-hundred day moving average price of $55.02. The stock has a market cap of $5.72 billion, a PE ratio of 12.13, a PEG ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Sell-side analysts anticipate that Commercial Metals will post 4.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CMC shares. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 target price for the company. UBS Group restated a “sell” rating and set a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.33.

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.