Commercial Metals (CMC) To Go Ex-Dividend on March 31st

Commercial Metals (NYSE:CMC) announced 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 dividend on an annualized basis and a dividend yield of 1.52%. 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 16.1% meaning its dividend is sufficiently covered by earnings. 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 Up 1.0 %

NYSE:CMC opened at $47.34 on Friday. The firm’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $52.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a one year low of $42.62 and a one year high of $64.53. The company has a market cap of $5.38 billion, a PE ratio of 42.65, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Wall Street Analyst Weigh In

CMC has been the topic of several recent research reports. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BMO Capital Markets lowered their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company 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 target for the company. Finally, Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.83.

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.