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.
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.
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.
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