Commercial Metals (NYSE:CMC) announced a quarterly dividend on Wednesday, June 20th, RTT News reports. Shareholders of record on Thursday, July 5th will be given a dividend of 0.12 per share by the basic materials company on Thursday, July 19th. This represents a $0.48 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, July 3rd.
Commercial Metals has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commercial Metals to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.5%.
Commercial Metals opened at $21.11 on Monday, MarketBeat Ratings reports. Commercial Metals has a twelve month low of $17.05 and a twelve month high of $26.72. The company has a quick ratio of 2.73, a current ratio of 3.90 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 34.05 and a beta of 1.38.
A number of analysts have weighed in on CMC shares. JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating in a research report on Friday, March 9th. Bank of America cut Commercial Metals from a “buy” rating to a “neutral” rating and raised their price target for the company from $25.36 to $28.00 in a report on Wednesday, March 14th. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on Commercial Metals in a report on Tuesday, March 20th. They issued a “sell” rating and a $25.00 price target for the company. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, March 20th. Finally, ValuEngine cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $24.11.
Commercial Metals Company Profile
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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