Commercial Metals (CMC) to Issue Quarterly Dividend of $0.18 on April 9th

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.18 per share by the basic materials company on Wednesday, April 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, March 31st.

Commercial Metals has raised its dividend by an average of 11.5% per year over the last three years. Commercial Metals has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $4.69 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 15.4%.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $46.15 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a one year low of $42.62 and a one year high of $64.53. The business’s 50-day moving average price is $48.67 and its two-hundred day moving average price is $52.65. The company has a market capitalization of $5.24 billion, a P/E ratio of 41.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 EPS. Analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CMC has been the subject of several analyst reports. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. UBS Group reduced their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. Finally, Jefferies Financial Group decreased their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $60.33.

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.