CRH (NYSE:CRH) Hits New 1-Year High on Analyst Upgrade

Key Points

• CRH's stock reached a new 52-week high of $114.40 following an upgrade by Sanford C. Bernstein, raising its price target from $115.00 to $130.00, maintaining an outperform rating.
• CRH reported $1.94 earnings per share (EPS) for the last quarter, falling short of the $2.06 consensus estimate, while revenue showed a year-over-year increase of 5.7% to $10.21 billion.
• The company recently announced a quarterly dividend of $0.37, providing an annualized yield of 1.3% and reflecting a dividend payout ratio of 23.22%.

Crh Plc (NYSE:CRH - Get Free Report)'s share price hit a new 52-week high on Thursday after Sanford C. Bernstein raised their price target on the stock from $115.00 to $130.00. Sanford C. Bernstein currently has an outperform rating on the stock. CRH traded as high as $114.40 and last traded at $114.36, with a volume of 2806300 shares. The stock had previously closed at $111.26.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. began coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a research note on Friday, August 8th. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research note on Tuesday, September 2nd. Finally, Vertical Research upgraded shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, CRH presently has a consensus rating of "Buy" and a consensus target price of $116.00.

Institutional Trading of CRH

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in CRH during the 1st quarter valued at about $744,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of CRH by 43.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock worth $906,424,000 after purchasing an additional 3,108,416 shares during the period. Hsbc Holdings PLC grew its position in CRH by 100.2% during the first quarter. Hsbc Holdings PLC now owns 452,776 shares of the construction company's stock valued at $39,318,000 after purchasing an additional 226,602 shares in the last quarter. GAMMA Investing LLC increased its stake in CRH by 27.4% in the 1st quarter. GAMMA Investing LLC now owns 1,919 shares of the construction company's stock valued at $169,000 after buying an additional 413 shares during the period. Finally, National Pension Service lifted its position in CRH by 8.6% in the 1st quarter. National Pension Service now owns 2,154,053 shares of the construction company's stock worth $189,492,000 after buying an additional 170,702 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Trading Up 2.8%

The business's 50-day simple moving average is $103.77 and its 200-day simple moving average is $96.50. The company has a market cap of $76.91 billion, a PE ratio of 23.96, a P/E/G ratio of 1.44 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm had revenue of $10.21 billion for the quarter, compared to analysts' expectations of $10.27 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. CRH's revenue was up 5.7% on a year-over-year basis. On average, research analysts predict that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be issued a $0.37 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio is currently 23.22%.

CRH Company Profile

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.

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