Commercial Metals (CMC) Plans Quarterly Dividend of $0.12

Commercial Metals (NYSE:CMC) declared a quarterly dividend on Tuesday, January 2nd, RTT News reports. Investors of record on Tuesday, January 16th will be given 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 2.11%. The ex-dividend date is Friday, January 12th.

Commercial Metals has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commercial Metals to earn $1.75 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 27.4%.

Commercial Metals (NYSE:CMC) opened at $22.77 on Wednesday. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $23.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.82 and a quick ratio of 1.81. The firm has a market cap of $2,660.00, a price-to-earnings ratio of 84.33 and a beta of 1.26.

A number of equities analysts recently weighed in on CMC shares. Bank of America reiterated a “neutral” rating and issued a $21.00 price objective (up from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Macquarie began coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 target price on the stock. Citigroup decreased their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Jefferies Group upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.88.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.chaffeybreeze.com/2018/01/03/commercial-metals-cmc-plans-quarterly-dividend-of-0-12.html.

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)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply