Commercial Metals (CMC) Declares Quarterly Dividend of $0.12

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Tuesday, January 2nd, RTT News reports. Investors of record on Tuesday, January 16th will be paid a dividend of 0.12 per share by the basic materials company on Wednesday, January 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, January 12th.

Commercial Metals has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Commercial Metals to earn $1.89 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 25.4%.

Shares of Commercial Metals (NYSE CMC) opened at $25.27 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.20 and a quick ratio of 2.07. The company has a market cap of $2,920.00, a PE ratio of 46.80 and a beta of 1.26. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $25.51.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s revenue was up 24.6% compared to the same quarter last year. equities analysts forecast that Commercial Metals will post 1.37 EPS for the current year.

CMC has been the subject of a number of research reports. Jefferies Group upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Citigroup reduced their price target on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Finally, Zacks Investment Research downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and a consensus target price of $21.88.

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About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Dividend History for Commercial Metals (NYSE:CMC)

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