Commercial Metals Company (CMC) to Issue Quarterly Dividend of $0.20 on July 15th

Commercial Metals Company (NYSE:CMC) announced a quarterly dividend on Wednesday, June 24th. Stockholders of record on Monday, July 6th will be given a dividend of 0.20 per share by the basic materials company on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th.

Commercial Metals has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Commercial Metals has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Commercial Metals to earn $7.16 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 11.2%.

Commercial Metals Stock Down 0.2%

Shares of NYSE:CMC opened at $61.58 on Friday. The firm has a market cap of $6.81 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.35 and a beta of 1.54. The company has a fifty day simple moving average of $71.59 and a 200 day simple moving average of $71.04. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals has a 12-month low of $49.66 and a 12-month high of $84.87.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts anticipate that Commercial Metals will post 6.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price target for the company. Wall Street Zen cut Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price objective for the company. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $79.00 to $89.00 in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.10.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.