Cementos Pacasmayo S.A.A. (CPAC) Raises Dividend to $0.54 Per Share
Cementos Pacasmayo S.A.A. (NYSE:CPAC) declared an annual dividend on Monday, November 6th, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.539 per share by the construction company on Thursday, December 7th. This represents a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Cementos Pacasmayo S.A.A.’s previous annual dividend of $0.43.
Cementos Pacasmayo S.A.A. has increased its dividend by an average of 36.8% annually over the last three years. Cementos Pacasmayo S.A.A. has a dividend payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Cementos Pacasmayo S.A.A. to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.39 annual dividend with an expected future payout ratio of 70.9%.
Cementos Pacasmayo S.A.A. (NYSE:CPAC) opened at $12.94 on Tuesday. The company has a market capitalization of $1,096.04, a PE ratio of 41.71, a price-to-earnings-growth ratio of 1.03 and a beta of 1.11. Cementos Pacasmayo S.A.A. has a twelve month low of $8.52 and a twelve month high of $13.39. The company has a current ratio of 3.61, a quick ratio of 1.62 and a debt-to-equity ratio of 0.59.
Several research analysts have commented on the company. Bank of America Corporation lifted their target price on Cementos Pacasmayo S.A.A. from $9.90 to $11.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. Zacks Investment Research raised Cementos Pacasmayo S.A.A. from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub downgraded Cementos Pacasmayo S.A.A. from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Scotiabank downgraded Cementos Pacasmayo S.A.A. from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $11.90 to $14.10 in a research note on Saturday, September 16th. Finally, Barclays PLC boosted their price objective on Cementos Pacasmayo S.A.A. from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.37.
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About Cementos Pacasmayo S.A.A.
Pacasmayo Cement Corp, formerly Cementos Pacasmayo SAA, is a Peru-based company principally engaged in the production, distribution and sale of construction materials. The Company is active in the development of traditional and blended cement, ready-mix concrete, mortars, quicklime, concrete blocks, diatomite bricks and aggregates, among others.
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