Crh Plc (NYSE:CRH) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Analyst sentiment is bullish: All 17 brokerages covering CRH rate it Buy or Strong Buy, with an average 12-month price target of $140.57 versus the stock’s recent $96.42 price.
• CRH exceeded quarterly expectations: The company reported adjusted EPS of $2.21, ahead of the $2.02 consensus, while revenue rose 5.6% year over year to $10.78 billion.
• CRH announced a quarterly dividend of $0.39 per share, equivalent to $1.56 annually and a 1.6% yield; institutional investors and hedge funds own 62.5% of the company.

Shares of Crh Plc (NYSE:CRH - Get Free Report) have received an average rating of "Buy" from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Sixteen equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $140.5733.

A number of analysts have recently commented on the company. Truist Financial lowered their price target on CRH from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, July 31st. DA Davidson began coverage on shares of CRH in a research note on Monday. They set a "buy" rating and a $137.00 price objective on the stock. Weiss Ratings upgraded shares of CRH from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, July 31st. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of CRH in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company cut their target price on shares of CRH from $135.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th.

Institutional Investors Weigh In On CRH

Hedge funds have recently modified their holdings of the business. Continuum Advisory LLC acquired a new position in shares of CRH in the 2nd quarter valued at approximately $29,000. Riggs Asset Managment Co. Inc. raised its holdings in CRH by 1,835.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock worth $30,000 after buying an additional 312 shares during the period. Bell Investment Advisors Inc lifted its stake in CRH by 51.2% in the first quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock valued at $32,000 after buying an additional 103 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in CRH in the fourth quarter valued at approximately $33,000. Finally, Elyxium Wealth LLC acquired a new position in shares of CRH in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Stock Up 0.7%

Shares of CRH stock opened at $96.42 on Wednesday. CRH has a 12 month low of $92.52 and a 12 month high of $131.55. The business has a fifty day simple moving average of $102.46 and a 200 day simple moving average of $108.14. The stock has a market cap of $64.15 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.77 and a beta of 1.34.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The construction company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.19. CRH had a return on equity of 15.76% and a net margin of 9.93%.The business had revenue of $10.78 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the company posted $1.94 earnings per share. The firm's revenue was up 5.6% on a year-over-year basis. Analysts expect that CRH will post 5.8 EPS for the current fiscal year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. CRH's payout ratio is presently 27.51%.

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.

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