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.
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