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

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, March 31st will be paid 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 1.52%. The ex-dividend date of this dividend is Monday, March 31st.

Commercial Metals has increased its dividend payment by an average of 11.5% per year over the last three years. Commercial Metals has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 CMC stock opened at $47.34 on Friday. The firm has a market capitalization of $5.38 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The firm has a fifty day simple moving average of $48.87 and a two-hundred day simple moving average of $52.77. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS 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 business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. Analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMC shares. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. 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 on the stock. Jefferies Financial Group cut their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Finally, BMO Capital Markets cut their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.83.

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.