Commercial Metals Company Upgraded to Neutral by Zacks (CMC)
Commercial Metals Company (NYSE:CMC) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Monday. The firm currently has a $17.70 price objective on the stock. Zacks‘s price objective suggests a potential upside of 2.43% from the company’s current price.
Commercial Metals Company (NYSE:CMC) traded up 0.47% during mid-day trading on Monday, hitting $17.28. The stock had a trading volume of 687,322 shares. Commercial Metals Company has a 52 week low of $14.69 and a 52 week high of $21.20. The stock has a 50-day moving average of $17.42 and a 200-day moving average of $18.40. The company has a market cap of $2.036 billion and a P/E ratio of 23.89.
Commercial Metals Company (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 in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Commercial Metals Company will post $0.83 EPS for the current fiscal year.
Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Commercial Metals Company in a research note on Monday, June 30th. They now have a $23.00 price target on the stock, down previously from $25.00. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.72.
Commercial Metals Company together with its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network, including steel mini mills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mini mill, metal recycling facilities and marketing and distribution in the United States and in international markets.
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