Commercial Metals Company (NYSE:CMC) had its price objective decreased by equities research analysts at Deutsche Bank AG to $26.00 in a note issued to investors on Tuesday. Deutsche Bank AG’s target price indicates a potential upside of 38.37% from the company’s previous close.
A number of other analysts also recently commented on the company. Credit Suisse Group AG reiterated a “neutral” rating and set a $19.00 target price (up from $15.00) on shares of Commercial Metals Company in a research report on Friday, January 13th. Zacks Investment Research upgraded Commercial Metals Company from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, December 30th. Citigroup Inc downgraded Commercial Metals Company from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Thursday, January 19th. Clarkson Capital downgraded Commercial Metals Company from a “neutral” rating to a “sell” rating in a research report on Thursday, March 2nd. Finally, Jefferies Group LLC downgraded Commercial Metals Company from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Monday, December 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.56.
Commercial Metals Company (NYSE:CMC) opened at 18.79 on Tuesday. The stock’s 50 day moving average price is $20.75 and its 200-day moving average price is $19.43. Commercial Metals Company has a 12-month low of $14.57 and a 12-month high of $24.64. The stock has a market capitalization of $2.17 billion, a PE ratio of 61.81 and a beta of 1.38.
Commercial Metals Company (NYSE:CMC) last posted its quarterly earnings results on Monday, January 9th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.06. Commercial Metals Company had a net margin of 0.79% and a return on equity of 6.77%. The business earned $1.08 billion during the quarter. During the same quarter in the previous year, the business posted $0.22 EPS. Commercial Metals Company’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts expect that Commercial Metals Company will post $0.82 earnings per share for the current year.
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In other Commercial Metals Company news, VP Adam R. Hickey sold 2,085 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $20.85, for a total transaction of $43,472.25. Following the sale, the vice president now directly owns 30,835 shares in the company, valued at $642,909.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CMC. Norges Bank bought a new position in Commercial Metals Company during the fourth quarter worth $38,100,000. Thrivent Financial for Lutherans boosted its position in Commercial Metals Company by 9.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,690 shares of the company’s stock worth $429,000 after buying an additional 1,770 shares during the period. AQR Capital Management LLC boosted its position in Commercial Metals Company by 0.6% in the fourth quarter. AQR Capital Management LLC now owns 4,497,207 shares of the company’s stock worth $97,949,000 after buying an additional 24,831 shares during the period. Seven Eight Capital LP bought a new position in Commercial Metals Company during the fourth quarter worth $229,000. Finally, Tudor Investment Corp Et Al bought a new position in Commercial Metals Company during the fourth quarter worth $331,000. 88.74% of the stock is owned by institutional investors.
Commercial Metals Company Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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