Stock analysts at Macquarie began coverage on shares of Commercial Metals Company (NYSE:CMC) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an “underperform” rating and a $16.00 price target on the basic materials company’s stock. Macquarie’s price objective points to a potential downside of 13.37% from the stock’s previous close.

CMC has been the topic of several other research reports. Bank of America Corporation reaffirmed a “neutral” rating and issued a $20.00 price target (up previously from $19.00) on shares of Commercial Metals in a research note on Sunday, June 25th. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “strong sell” rating in a research note on Monday, September 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, June 28th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Clarkson Capital reaffirmed a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a research note on Tuesday, August 15th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.22.

Commercial Metals (CMC) traded down 0.38% during midday trading on Wednesday, reaching $18.47. The company’s stock had a trading volume of 1,884,790 shares. The firm has a 50 day moving average price of $18.55 and a 200 day moving average price of $18.87. Commercial Metals has a 1-year low of $14.57 and a 1-year high of $24.64. The firm has a market capitalization of $2.14 billion, a PE ratio of 28.55 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. Commercial Metals’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, analysts predict that Commercial Metals will post $0.89 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of CMC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Commercial Metals by 67.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 2,142 shares during the period. Elkfork Partners LLC lifted its stake in shares of Commercial Metals by 13.6% during the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 660 shares during the period. Point72 Asia Hong Kong Ltd lifted its stake in shares of Commercial Metals by 367.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 5,182 shares during the period. Meadow Creek Investment Management LLC lifted its stake in shares of Commercial Metals by 13.6% during the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 840 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in shares of Commercial Metals by 56.6% during the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 2,492 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Commercial Metals 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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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