Crh Plc (NYSE:CRH) Receives $137.86 Consensus Target Price from Brokerages
by Michael Walen · The Markets DailyCrh Plc (NYSE:CRH – Get Free Report) has been given an average rating of “Moderate Buy” by the nineteen analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $137.8571.
Several equities research analysts recently commented on the company. BNP Paribas Exane raised CRH to a “strong-buy” rating in a research note on Friday, January 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of CRH in a research note on Monday, December 8th. UBS Group increased their price target on CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Longbow Research assumed coverage on shares of CRH in a research report on Tuesday, December 16th. They set a “buy” rating and a $160.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CRH from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd.
Hedge Funds Weigh In On CRH
Several institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in CRH by 158.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,670 shares of the construction company’s stock valued at $763,000 after buying an additional 5,316 shares in the last quarter. Empowered Funds LLC boosted its holdings in CRH by 5.3% in the first quarter. Empowered Funds LLC now owns 13,178 shares of the construction company’s stock worth $1,159,000 after acquiring an additional 658 shares in the last quarter. Sivia Capital Partners LLC grew its stake in CRH by 58.5% in the second quarter. Sivia Capital Partners LLC now owns 4,279 shares of the construction company’s stock valued at $393,000 after acquiring an additional 1,579 shares during the period. Global Retirement Partners LLC acquired a new stake in CRH in the second quarter valued at approximately $404,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of CRH by 13.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 10,412 shares of the construction company’s stock valued at $956,000 after acquiring an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
CRH Stock Down 1.4%
CRH stock opened at $104.67 on Friday. The firm has a market cap of $69.95 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.86 and a beta of 1.35. The company’s fifty day simple moving average is $114.90 and its 200 day simple moving average is $117.96. CRH has a 12-month low of $76.75 and a 12-month high of $131.55.
CRH (NYSE:CRH – Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The construction company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.68). The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $11.15 billion. CRH had a return on equity of 15.98% and a net margin of 10.02%.The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 earnings per share. Research analysts expect that CRH will post 5.47 earnings per share for the current year.
CRH Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Friday, March 6th will be issued a $0.39 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from CRH’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 1.5%. CRH’s dividend payout ratio is 28.26%.
About CRH
CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.
CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.