Commercial Metals (NYSE:CMC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Commercial Metals (NYSE:CMC) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $62.33.

A number of research firms have issued reports on CMC. Morgan Stanley reduced their price target on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Monday. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets lowered their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd.

Commercial Metals Price Performance

Shares of CMC opened at $50.10 on Friday. The firm has a market capitalization of $5.69 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.49 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The company’s fifty day moving average price is $52.43 and its 200-day moving average price is $54.18. Commercial Metals has a 1-year low of $45.50 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. On average, equities research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Commercial Metals’s payout ratio is 64.86%.

Institutional Trading of Commercial Metals

Institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC raised its position in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 267 shares during the period. nVerses Capital LLC acquired a new position in Commercial Metals during the third quarter worth $66,000. Jones Financial Companies Lllp lifted its holdings in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.