CRH (NYSE:CRH) Price Target Raised to $110.00

CRH (NYSE:CRH) had its price target hoisted by Stephens from $105.00 to $110.00 in a research note published on Monday,Benzinga reports. Stephens currently has an overweight rating on the construction company’s stock.

CRH has been the subject of several other reports. Rothschild & Co Redburn decreased their price objective on shares of CRH from $135.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, October 1st. DA Davidson dropped their target price on shares of CRH from $117.00 to $114.00 and set a “buy” rating on the stock in a report on Monday. UBS Group cut their target price on shares of CRH from $147.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Truist Financial cut their target price on shares of CRH from $130.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, BNP Paribas Exane decreased their target price on shares of CRH from $157.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, September 16th. Nineteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CRH currently has a consensus rating of “Moderate Buy” and an average target price of $125.61.

CRH Stock Performance

CRH opened at $98.95 on Monday. The stock has a market capitalization of $65.83 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.78 and a beta of 1.33. The company’s 50-day simple moving average is $87.22 and its two-hundred day simple moving average is $103.82. CRH has a 52-week low of $78.62 and a 52-week high of $131.55.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. CRH had a net margin of 9.19% and a return on equity of 15.03%. The firm had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts forecast that CRH will post 5.55 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 13th. CRH’s dividend payout ratio (DPR) is presently 29.27%.

Institutional Investors Weigh In On CRH

Hedge funds and other institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC purchased a new position in shares of CRH in the second quarter worth approximately $29,000. Cedar Mountain Advisors LLC bought a new stake in CRH during the first quarter valued at approximately $38,000. Anchor Investment Management LLC purchased a new stake in CRH during the second quarter valued at approximately $40,000. Eastern Bank increased its holdings in CRH by 36.5% during the second quarter. Eastern Bank now owns 550 shares of the construction company’s stock valued at $59,000 after buying an additional 147 shares during the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in CRH by 42.3% in the third quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company’s stock worth $48,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

CRH plc is a global building materials company that supplies products and solutions used in residential, commercial and infrastructure construction. Its activities include the production and distribution of aggregates, asphalt, ready-mixed concrete, cement and other construction materials, as well as value-added products such as precast concrete, architectural products and site-development solutions.

The company serves customers across North America and Europe, including contractors, construction companies, infrastructure developers, distributors and public-sector organizations.