Commercial Metals Co. Announces Quarterly Dividend of $0.12 (CMC)
Commercial Metals (NYSE:CMC) declared a quarterly dividend on Wednesday, October 23rd, American Banking News.com reports. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.12 per share on Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 2.77%.
A number of analysts have recently weighed in on CMC shares. Analysts at BMO Capital Markets initiated coverage on shares of Commercial Metals in a research note to investors on Tuesday, September 17th. They set an “outperform” rating and a $19.00 price target on the stock. On the ratings front, analysts at Jefferies Group raised their price target on shares of Commercial Metals from $17.00 to $19.00 in a research note to investors on Monday, September 16th. They now have a “buy” rating on the stock. Finally, analysts at Merrill Lynch upgraded shares of Commercial Metals to a “neutral” rating in a research note to investors on Friday, September 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.16.
Shares of Commercial Metals (NYSE:CMC) opened at 17.34 on Wednesday. Commercial Metals has a one year low of $12.63 and a one year high of $17.47. The stock has a 50-day moving average of $15.65 and a 200-day moving average of $15.24. The company has a market cap of $2.028 billion and a P/E ratio of 19.59.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.18 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.84 billion. Analysts expect that Commercial Metals will post $0.65 EPS for the current fiscal year.
Commercial Metals Company and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network, including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube minimill, metal recycling facilities and marketing and distribution in the United States and in international markets.
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