Commercial Metals Company (NYSE:CMC) – Jefferies Group lowered their FY2018 EPS estimates for Commercial Metals in a note issued to investors on Wednesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $1.66 for the year, down from their prior forecast of $1.67. Jefferies Group currently has a “Hold” rating and a $19.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Citigroup Inc. raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $21.00 to $22.00 in a report on Tuesday, June 13th. BidaskClub raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Bank of America Corporation reissued a “neutral” rating and set a $20.00 price objective (up previously from $19.00) on shares of Commercial Metals in a report on Sunday, June 25th. Credit Suisse Group raised shares of Commercial Metals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $24.00 in a report on Tuesday, March 28th. Finally, Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.

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Shares of Commercial Metals (NYSE CMC) traded up 0.79% during trading on Thursday, reaching $20.43. 812,863 shares of the company’s stock were exchanged. Commercial Metals has a 52 week low of $14.58 and a 52 week high of $24.64. The company’s 50-day moving average is $19.17 and its 200 day moving average is $19.53. The stock has a market capitalization of $2.37 billion, a PE ratio of 31.58 and a beta of 1.23.

Commercial Metals (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. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. Commercial Metals’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS.

Several hedge funds have recently made changes to their positions in CMC. Thrivent Financial for Lutherans boosted its stake in shares of Commercial Metals by 9.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,690 shares of the basic materials company’s stock valued at $429,000 after buying an additional 1,770 shares in the last quarter. Norges Bank acquired a new stake in shares of Commercial Metals during the fourth quarter valued at about $38,100,000. Teachers Advisors LLC boosted its stake in shares of Commercial Metals by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 239,544 shares of the basic materials company’s stock valued at $5,217,000 after buying an additional 9,267 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Commercial Metals by 3.2% in the first quarter. Capstone Asset Management Co. now owns 14,042 shares of the basic materials company’s stock valued at $269,000 after buying an additional 440 shares in the last quarter. Finally, Guild Investment Management Inc. acquired a new stake in shares of Commercial Metals during the first quarter valued at about $5,667,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, July 3rd. Commercial Metals’s dividend payout ratio is 73.85%.

About Commercial Metals

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.

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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