CRH (NYSE:CRH) Shares Gap Up - Here's What Happened

Key Points

• CRH shares gapped up from a previous close of $114.59 to open at $120.95, with a last traded price of $120.01 and a trading volume of approximately 1.48 million shares.
• Analysts have varied opinions on CRH, with ratings ranging from "Strong Buy" to "Neutral," and a consensus price target averaging around $117.00.
• The company recently announced a quarterly dividend of $0.37 per share, representing an annualized dividend of $1.48 with a yield of 1.2%.

Crh Plc (NYSE:CRH - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $114.59, but opened at $120.95. CRH shares last traded at $120.01, with a volume of 1,476,968 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRH. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $112.00 price target (up from $108.00) on shares of CRH in a research report on Friday, August 8th. Bank of America started coverage on shares of CRH in a research note on Friday. They set a "buy" rating and a $128.00 price objective for the company. DA Davidson reissued a "neutral" rating and issued a $105.00 price target (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Sanford C. Bernstein increased their target price on shares of CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. initiated coverage on CRH in a report on Tuesday, August 26th. They set an "overweight" rating and a $130.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CRH presently has an average rating of "Buy" and an average target price of $117.00.

CRH Price Performance

The company has a market capitalization of $80.38 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31. The business's 50 day simple moving average is $108.60 and its 200 day simple moving average is $97.79.

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

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.2%. CRH's dividend payout ratio (DPR) is 23.22%.

Institutional Investors Weigh In On CRH

Several hedge funds have recently modified their holdings of CRH. Vanguard Group Inc. lifted its position in CRH by 62.8% during the 1st quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company's stock worth $5,608,567,000 after acquiring an additional 24,591,538 shares in the last quarter. Norges Bank purchased a new position in shares of CRH in the second quarter valued at $1,007,932,000. Nuveen LLC acquired a new position in CRH in the 1st quarter worth $597,888,000. Massachusetts Financial Services Co. MA raised its position in shares of CRH by 43.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company's stock valued at $906,424,000 after purchasing an additional 3,108,416 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CRH by 58,695.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,830,994 shares of the construction company's stock valued at $249,043,000 after purchasing an additional 2,826,179 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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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