Commercial Metals (CMC) to Issue Quarterly Dividend of $0.18 on January 30th

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 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 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

CMC opened at $48.89 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company’s 50 day simple moving average is $57.06 and its 200-day simple moving average is $54.97. Commercial Metals has a one year low of $47.42 and a one year high of $64.53. The stock has a market capitalization of $5.57 billion, a P/E ratio of 11.81, a price-to-earnings-growth 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 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Sell-side analysts anticipate that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on CMC. Morgan Stanley began 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. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. UBS Group reaffirmed a “sell” rating and issued a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.67.

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.