Commercial Metals (CMC) to Issue Quarterly Dividend of $0.12 on November 13th

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Thursday, October 15th, Wall Street Journal reports. Shareholders of record on Thursday, October 29th will be paid a dividend of 0.12 per share by the basic materials company on Friday, November 13th. This represents a $0.48 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, October 28th.

Shares of CMC stock opened at $21.62 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.39 and a current ratio of 3.42. The company has a market capitalization of $2.57 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 3.43 and a beta of 1.40. The company’s 50 day moving average price is $21.03 and its two-hundred day moving average price is $19.05. Commercial Metals has a 52 week low of $10.76 and a 52 week high of $24.04.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 15th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.57 by $0.22. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.38 billion. Commercial Metals had a net margin of 5.31% and a return on equity of 18.16%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. Analysts forecast that Commercial Metals will post 2.44 earnings per share for the current year.

Several brokerages have recently weighed in on CMC. BMO Capital Markets raised their price target on shares of Commercial Metals from $15.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, June 19th. Citigroup raised their price target on shares of Commercial Metals from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday. BofA Securities cut shares of Commercial Metals from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Friday. Credit Suisse Group raised their price target on shares of Commercial Metals from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, June 19th. Finally, Zacks Investment Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research note on Monday, September 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.50.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Dividend History for Commercial Metals (NYSE:CMC)

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