Commercial Metals (NYSE:CMC) Declares $0.18 Quarterly Dividend

Commercial Metals (NYSE:CMC - Get Free Report) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, March 31st.

Commercial Metals has raised its dividend payment by an average of 11.5% per year over the last three years. Commercial Metals has a dividend payout ratio of 16.3% indicating that 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 Trading Down 1.5 %

Shares of NYSE:CMC traded down $0.69 during midday trading on Friday, hitting $46.67. The company had a trading volume of 4,747,041 shares, compared to its average volume of 863,689. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.62 and a beta of 1.17. The firm has a fifty day simple moving average of $48.86 and a 200 day simple moving average of $52.75.

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

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Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMC. Morgan Stanley dropped their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Jefferies Financial Group dropped their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Commercial Metals currently has an average rating of "Hold" and a consensus price target of $61.17.

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.