CRH (NYSE:CRH) Reaches New 1-Year High - Still a Buy?

Key Points

• CRH plc reached a new 52-week high of $111.04, closing at $110.89 with a trading volume of over 2.2 million shares.
• Analysts are generally positive on CRH, with a consensus rating of "Buy" and an average target price of $113.18.
• The company recently reported $1.94 earnings per share for the last quarter, which was below the consensus estimate of $2.06.

Crh Plc (NYSE:CRH - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $111.04 and last traded at $110.89, with a volume of 2209711 shares changing hands. The stock had previously closed at $107.42.

Analyst Ratings Changes

Several analysts recently commented on CRH shares. Sanford C. Bernstein started coverage on CRH in a report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 target price on the stock. Vertical Research upgraded CRH to a "strong-buy" rating in a report on Friday, August 1st. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Friday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $112.00 target price (up from $108.00) on shares of CRH in a report on Friday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $113.18.

CRH Price Performance

The firm has a fifty day simple moving average of $94.50 and a 200-day simple moving average of $94.95. The firm has a market cap of $75.78 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%. The firm's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 EPS. On average, equities analysts predict that Crh Plc will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

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

Institutional Trading of CRH

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. increased its holdings in CRH by 21.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 7,855 shares of the construction company's stock worth $721,000 after purchasing an additional 1,410 shares in the last quarter. Titleist Asset Management LLC increased its holdings in CRH by 312.3% during the 2nd quarter. Titleist Asset Management LLC now owns 14,345 shares of the construction company's stock worth $1,317,000 after purchasing an additional 10,866 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CRH by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,640,752 shares of the construction company's stock worth $242,421,000 after purchasing an additional 33,957 shares in the last quarter. American Century Companies Inc. increased its holdings in CRH by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 3,075,893 shares of the construction company's stock worth $282,367,000 after purchasing an additional 133,077 shares in the last quarter. Finally, Camden National Bank lifted its position in shares of CRH by 7.8% during the 2nd quarter. Camden National Bank now owns 4,126 shares of the construction company's stock worth $379,000 after buying an additional 299 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

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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