Commercial Metals (NYSE:CMC) Receives $63.83 Average Price Target from Analysts

Shares of Commercial Metals (NYSE:CMC) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $62.33.

Several brokerages recently issued reports on CMC. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered their price objective on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Monday. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets dropped their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd.

Institutional Trading of Commercial Metals

Large investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC raised its position in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. nVerses Capital LLC acquired a new position in Commercial Metals in the third quarter worth $66,000. GAMMA Investing LLC grew its holdings in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Commercial Metals during the fourth quarter worth $134,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Up 0.7 %

Shares of Commercial Metals stock opened at $47.95 on Friday. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The company’s fifty day simple moving average is $52.91 and its 200-day simple moving average is $54.25. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 43.20, a PEG ratio of 2.49 and a beta of 1.18. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. As a group, sell-side analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. Commercial Metals’s payout ratio is presently 64.86%.

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.