Commercial Metals Company (NYSE:CMC) Receives Consensus Rating of “Hold” from Analysts
Commercial Metals Company (NYSE:CMC) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $22.17.
A number of analysts have recently weighed in on CMC shares. Deutsche Bank AG cut their price target on shares of Commercial Metals Company to $26.00 and set a “buy” rating for the company in a report on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $19.00 price target on shares of Commercial Metals Company in a report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Commercial Metals Company from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Credit Suisse Group raised shares of Commercial Metals Company from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $19.00 to $24.00 in a report on Tuesday, March 28th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $20.00 price target (up previously from $19.00) on shares of Commercial Metals Company in a report on Sunday, June 25th.
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Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Commercial Metals Company by 17,672.9% in the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock valued at $278,663,000 after buying an additional 14,484,894 shares during the last quarter. State Street Corp increased its position in shares of Commercial Metals Company by 8.9% in the first quarter. State Street Corp now owns 6,115,380 shares of the basic materials company’s stock valued at $116,984,000 after buying an additional 497,543 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Commercial Metals Company by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,986,048 shares of the basic materials company’s stock valued at $76,253,000 after buying an additional 1,201,973 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Commercial Metals Company by 2,256.4% in the first quarter. Systematic Financial Management LP now owns 1,810,577 shares of the basic materials company’s stock valued at $34,636,000 after buying an additional 1,733,742 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Commercial Metals Company during the fourth quarter valued at approximately $38,100,000. 89.75% of the stock is owned by institutional investors and hedge funds.
Shares of Commercial Metals Company (NYSE:CMC) opened at 19.50 on Friday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 30.14 and a beta of 1.23. Commercial Metals Company has a 12-month low of $14.58 and a 12-month high of $24.64. The stock’s 50 day moving average is $18.57 and its 200 day moving average is $19.82. Commercial Metals Company also saw unusually large options trading activity on Wednesday. Stock investors acquired 10,197 call options on the company. This is an increase of approximately 670% compared to the average daily volume of 1,325 call options.
Commercial Metals Company (NYSE:CMC) last issued its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.11. Commercial Metals Company had a net margin of 1.57% and a return on equity of 7.84%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Commercial Metals Company will post $0.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Thursday, July 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, July 3rd. Commercial Metals Company’s payout ratio is 73.85%.
About Commercial Metals Company
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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