Commercial Metals Company Given Consensus Rating of “Hold” by Analysts (NYSE:CMC)
Shares of Commercial Metals Company (NYSE:CMC) have been given an average recommendation of “Hold” by the nine analysts that are covering the stock, AmericanBankingNews.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.72.
Commercial Metals Company (NYSE:CMC) traded up 1.39% during mid-day trading on Tuesday, hitting $17.52. The stock had a trading volume of 188,907 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 $2.064 billion and a price-to-earnings ratio of 24.00.
Commercial Metals Company (NYSE:CMC) last announced its earnings results on Friday, June 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Commercial Metals Company will post $0.83 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CMC shares. Analysts at Zacks upgraded shares of Commercial Metals Company from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $17.70 price target on the stock. 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.
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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