Commercial Metals (NYSE:CMC) Receives Consensus Recommendation of “Hold” from Analysts

Commercial Metals (NYSE:CMC) has been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.43.

Several research analysts recently issued reports on CMC shares. Exane BNP Paribas assumed coverage on shares of Commercial Metals in a research report on Thursday, November 14th. They set an “outperform” rating on the stock. Bank of America raised their price target on Commercial Metals from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, October 24th. Deutsche Bank upgraded Commercial Metals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $18.50 to $25.00 in a research report on Tuesday, November 26th. Goldman Sachs Group cut Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a report on Sunday, September 22nd. Finally, BMO Capital Markets began coverage on shares of Commercial Metals in a research report on Tuesday, November 26th. They set a “market perform” rating and a $23.00 target price on the stock.

NYSE:CMC traded up $0.42 during mid-day trading on Friday, hitting $21.73. 37,930 shares of the company’s stock traded hands, compared to its average volume of 1,169,777. The firm has a 50 day moving average of $19.98 and a two-hundred day moving average of $17.44. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 2.66 and a beta of 1.82. Commercial Metals has a 12 month low of $13.27 and a 12 month high of $21.91. The company has a current ratio of 2.99, a quick ratio of 2.00 and a debt-to-equity ratio of 0.76.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Commercial Metals had a return on equity of 16.04% and a net margin of 3.40%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, equities research analysts expect that Commercial Metals will post 2.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.48 annualized dividend and a dividend yield of 2.21%. Commercial Metals’s dividend payout ratio is currently 23.08%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. Strs Ohio acquired a new position in shares of Commercial Metals during the 3rd quarter worth about $33,000. Atria Investments LLC acquired a new position in Commercial Metals during the second quarter valued at approximately $361,000. Cerebellum GP LLC acquired a new position in Commercial Metals during the third quarter valued at approximately $129,000. SG Americas Securities LLC bought a new stake in Commercial Metals in the third quarter valued at approximately $118,000. Finally, World Asset Management Inc bought a new stake in Commercial Metals in the second quarter valued at approximately $181,000. Institutional investors and hedge funds own 90.89% of the company’s stock.

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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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