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

Commercial Metals (NYSE:CMC - Get Free Report) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Investors 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 1.46%.

Commercial Metals has raised its dividend payment by an average of 10.1% per year over the last three years. Commercial Metals has a 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 Trading Down 0.9 %

Shares of CMC stock traded down $0.45 during trading hours on Thursday, hitting $49.15. The company had a trading volume of 828,677 shares, compared to its average volume of 869,368. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week high of $64.53. 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 fifty day moving average is $57.18 and its 200 day moving average is $55.02. The stock has a market capitalization of $5.60 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.01). The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Research analysts expect that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMC shares. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price target on the stock. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. UBS Group reiterated a "sell" rating and issued a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, Morgan Stanley started coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They set an "equal weight" rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $65.33.

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.