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

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.18 per share by the basic materials company on Wednesday, July 10th. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date is Monday, July 1st.

Commercial Metals has increased its dividend by an average of 10.1% per year over the last three years. Commercial Metals has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $5.64 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 12.8%.

Commercial Metals Stock Performance

CMC stock opened at $54.99 on Friday. The firm has a market cap of $6.32 billion, a P/E ratio of 11.46 and a beta of 1.27. The stock’s 50 day simple moving average is $54.59 and its 200 day simple moving average is $53.63. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $59.81.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the business posted $2.02 EPS. The company’s quarterly revenue was down 11.4% on a year-over-year basis. As a group, equities research analysts predict that Commercial Metals will post 4.71 EPS for the current year.

Analysts Set New Price Targets

CMC has been the subject of a number of analyst reports. Bank of America reduced their price objective on Commercial Metals from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets lifted their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.50.

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.