Commercial Metals Company (NYSE:CMC) – Research analysts at KeyCorp upped their FY2017 EPS estimates for shares of Commercial Metals in a note issued to investors on Wednesday. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $0.84 per share for the year, up from their previous forecast of $0.78. KeyCorp also issued estimates for Commercial Metals’ Q4 2017 earnings at $0.17 EPS and FY2018 earnings at $0.95 EPS.

Several other research analysts have also commented on CMC. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a research report on Wednesday, May 24th. Bank of America Corporation lowered Commercial Metals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $19.00 in a research report on Thursday, June 8th. Citigroup Inc. raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, June 13th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.75.

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Shares of Commercial Metals (CMC) opened at 17.31 on Monday. The stock has a market capitalization of $2.00 billion, a PE ratio of 26.75 and a beta of 1.22. Commercial Metals has a 52 week low of $14.57 and a 52 week high of $24.64. The company has a 50-day moving average price of $19.17 and a 200 day moving average price of $19.21.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Commercial Metals 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 period. Systematic Financial Management LP increased its position in shares of Commercial Metals 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 period. Janus Henderson Group PLC acquired a new position in shares of Commercial Metals during the second quarter valued at $29,018,000. Goldman Sachs Group Inc. increased its position in shares of Commercial Metals 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 period. Finally, Deprince Race & Zollo Inc. increased its position in shares of Commercial Metals by 167.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock valued at $36,922,000 after buying an additional 1,190,364 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.

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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