Share on StockTwits

Commercial Metals (NYSE:CMC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday. They currently have a $16.70 target price on the stock. Zacks‘s target price would indicate a potential downside of 5.17% from the stock’s previous close.

Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Commercial Metals in a research note on Monday. They now have a $23.00 price target on the stock, down previously from $25.00. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.16.

Shares of Commercial Metals (NYSE:CMC) traded up 0.85% during mid-day trading on Wednesday, hitting $17.76. 1,013,065 shares of the company’s stock traded hands. Commercial Metals has a 1-year low of $14.24 and a 1-year high of $21.20. The stock has a 50-day moving average of $18.07 and a 200-day moving average of $19.06. The company has a market cap of $2.090 billion and a P/E ratio of 24.46.

Commercial Metals (NYSE:CMC) last announced its earnings results on Friday, June 27th. The company reported $0.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.30 by $0.01. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $0.16 earnings per share. Commercial Metals’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Commercial Metals will post $0.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Tuesday, July 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.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.