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 paid 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 1.47%. The ex-dividend date is Thursday, January 16th.

Commercial Metals has increased its dividend by an average of 10.1% annually over the last three years. Commercial Metals has a dividend payout ratio of 19.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Down 0.5 %

Shares of CMC stock opened at $48.89 on Friday. The firm’s fifty day moving average price is $57.06 and its two-hundred day moving average price is $54.97. 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 1 year low of $47.42 and a 1 year high of $64.53. The firm has a market capitalization of $5.57 billion, a P/E ratio of 11.81, a PEG ratio of 2.74 and a beta of 1.19.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, equities analysts predict that Commercial Metals will post 4.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group began coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday. UBS Group reiterated a “sell” rating and issued a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Finally, Morgan Stanley assumed coverage on Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Commercial Metals has a consensus rating of “Hold” and a consensus target price of $64.67.

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.