Commercial Metals (NYSE:CMC) Announces Quarterly Dividend of $0.12

Commercial Metals (NYSE:CMC) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Wednesday, November 6th will be given a dividend of 0.12 per share by the basic materials company on Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Tuesday, November 5th.

CMC opened at $19.12 on Thursday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.47 and a beta of 1.76. Commercial Metals has a 1 year low of $13.27 and a 1 year high of $21.05. The company has a current ratio of 3.00, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $17.79 and a 200 day moving average price of $16.85.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Commercial Metals will post 2.02 earnings per share for the current fiscal year.

CMC has been the subject of a number of analyst reports. Bank of America boosted their price target on Commercial Metals from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday. JPMorgan Chase & Co. set a $22.00 price target on Commercial Metals and gave the stock a “buy” rating in a research report on Monday, September 23rd. ValuEngine raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank cut Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Thursday, July 11th. They noted that the move was a valuation call. Finally, TheStreet raised Commercial Metals from a “c+” rating to a “b” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.87.

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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