Commercial Metals PT Raised to $25.00 at DA Davidson (CMC)
DA Davidson boosted their price target on shares of Commercial Metals (NYSE:CMC) from $22.00 to $25.00 in a research note issued on Wednesday, AR Network reports. DA Davidson’s price target suggests a potential upside of 23.15% from the stock’s previous close.
Shares of Commercial Metals (NYSE:CMC) traded up 1.55% on Wednesday, hitting $20.30. 1,614,478 shares of the company’s stock traded hands. Commercial Metals has a one year low of $13.33 and a one year high of $21.20. The stock’s 50-day moving average is $19.70 and its 200-day moving average is $17.12. The company has a market cap of $2.376 billion and a P/E ratio of 30.29.
Commercial Metals (NYSE:CMC) last announced its earnings results on Tuesday, January 7th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.28 earnings per share. Commercial Metals’s revenue was down 3.8% compared to the same quarter last year. On average, analysts predict that Commercial Metals will post $1.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 4th. Investors of record on Tuesday, January 21st will be given a dividend of 0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, January 16th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Commercial Metals from $19.00 to $22.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Commercial Metals from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. Finally, analysts at KeyCorp raised their price target on shares of Commercial Metals from $21.00 to $22.00 in a research note to investors on Wednesday, November 6th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.97.
Commercial Metals Company and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network, including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube minimill, metal recycling facilities and marketing and distribution in the United States and in international markets.
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