Commercial Metals Company Receives BB+ Credit Rating from Morningstar (CMC)
Commercial Metals Company (NYSE:CMC) has earned a “BB+” credit rating from Morningstar. The credit rating agency’s “BB+” rating suggests that the company is an above-average default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
Other equities research analysts have also recently issued reports about the stock. 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.72.
Commercial Metals Company (NYSE:CMC) opened at 17.99 on Friday. Commercial Metals Company has a 52-week low of $15.38 and a 52-week high of $21.20. The stock’s 50-day moving average is $17.46 and its 200-day moving average is $18.35. The company has a market cap of $2.120 billion and a price-to-earnings ratio of 24.96.
Commercial Metals Company (NYSE:CMC) last released its earnings data 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.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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.