Commercial Metals (NYSE:CMC) announced a quarterly dividend on Tuesday, January 2nd, RTT News reports. Investors of record on Tuesday, January 16th will be given a dividend of 0.12 per share by the basic materials company on Wednesday, January 31st. This represents a $0.48 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, January 12th.
Commercial Metals has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Commercial Metals to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 25.4%.
Shares of Commercial Metals (NYSE:CMC) opened at $24.90 on Friday. Commercial Metals has a 52 week low of $17.05 and a 52 week high of $25.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.81 and a current ratio of 3.20. The company has a market cap of $2,904.11, a PE ratio of 25.94 and a beta of 1.26.
Commercial Metals (NYSE:CMC) last issued its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. analysts expect that Commercial Metals will post 1.37 EPS for the current fiscal year.
Several brokerages have recently issued reports on CMC. Zacks Investment Research upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research note on Tuesday, October 17th. Jefferies Group dropped their target price on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Citigroup dropped their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Finally, Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $21.00 to $24.00 in a research note on Thursday, December 7th. Four research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.88.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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