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

Commercial Metals (NYSE:CMC) declared a quarterly dividend on Thursday, January 2nd,RTT News reports. Shareholders 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 yield of 1.46%.

Commercial Metals has raised its dividend by an average of 10.1% annually over the last three years. Commercial Metals has a dividend payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.9 %

NYSE CMC opened at $49.15 on Friday. The stock’s fifty day moving average price is $57.13 and its 200-day moving average price is $54.98. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.60 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.74 and a beta of 1.15. Commercial Metals has a 12 month low of $47.42 and a 12 month high of $64.53.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, UBS Group reiterated a “sell” rating and set a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals has an average rating of “Hold” and an average price target of $65.33.

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.