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

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

Commercial Metals has increased its dividend payment by an average of 10.1% annually over the last three years. Commercial Metals has a 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 Price Performance

Shares of Commercial Metals stock traded up $0.60 during trading hours on Thursday, reaching $50.20. 20,740 shares of the company’s stock were exchanged, compared to its average volume of 869,368. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.72 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The business has a fifty day moving average of $57.18 and a two-hundred day moving average of $55.02. Commercial Metals has a 1 year low of $47.42 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS 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 analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. As a group, research analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CMC. Morgan Stanley assumed coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price on the stock. 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 set a $62.00 price objective on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group reiterated a “sell” rating and set a $56.00 target price (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.