Jefferies Group LLC Reaffirms “Hold” Rating for Commercial Metals Company (CMC)
Commercial Metals Company (NYSE:CMC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a report issued on Wednesday. They currently have a $19.00 target price on the basic materials company’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 0.26% from the company’s current price.
A number of other analysts have also issued reports on the company. Credit Suisse Group AG raised Commercial Metals Company from a “neutral” rating to an “outperform” rating and raised their target price for the company from $19.00 to $24.00 in a report on Tuesday, March 28th. Deutsche Bank AG lowered their target price on Commercial Metals Company to $26.00 and set a “buy” rating on the stock in a report on Tuesday, March 21st. Finally, Clarkson Capital lowered Commercial Metals Company from a “neutral” rating to a “sell” rating in a report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.50.
Shares of Commercial Metals Company (NYSE:CMC) traded down 1.89% during trading on Wednesday, hitting $18.69. The company’s stock had a trading volume of 1,267,106 shares. The firm’s 50 day moving average is $18.32 and its 200-day moving average is $20.37. Commercial Metals Company has a 1-year low of $14.57 and a 1-year high of $24.64. The company has a market capitalization of $2.16 billion, a P/E ratio of 39.43 and a beta of 1.38.
Commercial Metals Company (NYSE:CMC) last released its earnings results on Thursday, March 23rd. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.13. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Commercial Metals Company had a return on equity of 6.77% and a net margin of 0.79%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Analysts forecast that Commercial Metals Company will post $0.87 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in CMC. Comerica Bank raised its stake in shares of Commercial Metals Company by 5.0% in the fourth quarter. Comerica Bank now owns 99,660 shares of the basic materials company’s stock valued at $2,031,000 after buying an additional 4,776 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Commercial Metals Company during the fourth quarter valued at $8,364,000. Dean Investment Associates LLC raised its stake in shares of Commercial Metals Company by 2.7% in the third quarter. Dean Investment Associates LLC now owns 261,845 shares of the basic materials company’s stock valued at $4,239,000 after buying an additional 6,810 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Commercial Metals Company by 8.1% in the third quarter. Mackenzie Financial Corp now owns 96,986 shares of the basic materials company’s stock valued at $1,570,000 after buying an additional 7,250 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its stake in shares of Commercial Metals Company by 206.1% in the third quarter. Highbridge Capital Management LLC now owns 75,485 shares of the basic materials company’s stock valued at $1,222,000 after buying an additional 50,827 shares during the last quarter. 88.74% of the stock is currently owned by institutional investors.
Commercial Metals Company Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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