Commercial Metals Given Consensus Rating of “Hold” by Brokerages (NYSE:CMC)
Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the eleven analysts that are currently covering the stock, Analyst Ratings.Net reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.28.
Commercial Metals (NYSE:CMC) opened at 19.02 on Tuesday. Commercial Metals has a 52 week low of $13.33 and a 52 week high of $21.20. The stock has a 50-day moving average of $19.62 and a 200-day moving average of $18.19. The company has a market cap of $2.231 billion and a P/E ratio of 30.48.
Commercial Metals (NYSE:CMC) last announced its earnings results on Tuesday, January 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Commercial Metals will post $1.20 earnings per share for the current fiscal year.
In other Commercial Metals news, Director Anthony Massaro unloaded 6,024 shares of the stock on the open market in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $19.75, for a total transaction of $118,974.00. Following the sale, the director now directly owns 39,503 shares of the company’s stock, valued at approximately $780,184. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on CMC shares. Analysts at KeyCorp downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Monday. Separately, analysts at Credit Suisse initiated coverage on shares of Commercial Metals in a research note on Friday, January 24th. They set a “neutral” rating and a $20.11 price target on the stock. Finally, analysts at DA Davidson raised their price target on shares of Commercial Metals from $22.00 to $25.00 in a research note on Wednesday, January 8th.
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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