Commercial Metals (CMC) Receives $23.20 Average Price Target from Analysts

Shares of Commercial Metals (NYSE:CMC) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.20.

Several equities analysts have commented on CMC shares. Citigroup increased their target price on shares of Commercial Metals from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, November 6th. ValuEngine downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Seaport Global Securities started coverage on shares of Commercial Metals in a research report on Thursday, October 11th. They set a “neutral” rating and a $20.00 target price on the stock. Deutsche Bank downgraded shares of Commercial Metals to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Macquarie set a $23.00 target price on shares of Commercial Metals and gave the stock a “hold” rating in a research report on Friday, October 26th.

A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position in Commercial Metals by 3.0% during the second quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock worth $1,715,000 after buying an additional 2,354 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Commercial Metals by 27.8% during the third quarter. Riverhead Capital Management LLC now owns 12,403 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 2,700 shares during the period. Verity Asset Management Inc. boosted its holdings in Commercial Metals by 7.6% during the third quarter. Verity Asset Management Inc. now owns 40,630 shares of the basic materials company’s stock valued at $834,000 after acquiring an additional 2,862 shares during the period. Teachers Advisors LLC boosted its holdings in Commercial Metals by 1.1% during the third quarter. Teachers Advisors LLC now owns 270,435 shares of the basic materials company’s stock valued at $5,549,000 after acquiring an additional 2,902 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Commercial Metals by 1.8% during the third quarter. Legal & General Group Plc now owns 168,437 shares of the basic materials company’s stock valued at $3,456,000 after acquiring an additional 3,021 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CMC opened at $19.07 on Monday. Commercial Metals has a 1-year low of $17.26 and a 1-year high of $26.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.75 and a current ratio of 3.83. The firm has a market capitalization of $2.26 billion, a PE ratio of 13.07 and a beta of 1.26.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. On average, sell-side analysts predict that Commercial Metals will post 2.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.52%. The ex-dividend date was Tuesday, November 6th. Commercial Metals’s payout ratio is 32.21%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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