Commercial Metals Company (NYSE:CMC) had its price target cut by analysts at Citigroup Inc. from $22.00 to $21.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 16.28% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Jefferies Group LLC reissued a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a research note on Wednesday, May 24th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Bank of America Corporation reissued a “neutral” rating and set a $21.00 price target (up previously from $20.00) on shares of Commercial Metals in a research note on Tuesday, September 5th. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Clarkson Capital reissued a “sell” rating and set a $16.00 price target on shares of Commercial Metals in a research note on Tuesday, August 15th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Commercial Metals has an average rating of “Hold” and a consensus price target of $21.11.

Shares of Commercial Metals (NYSE CMC) traded up 2.79% during trading on Friday, hitting $18.06. The company’s stock had a trading volume of 3,254,800 shares. The company has a 50-day moving average price of $18.31 and a 200-day moving average price of $18.77. Commercial Metals has a one year low of $14.86 and a one year high of $24.64. The stock has a market cap of $2.09 billion, a PE ratio of 27.91 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, topping 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%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. Equities analysts predict that Commercial Metals will post $0.89 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of CMC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Commercial Metals by 67.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock valued at $102,000 after buying an additional 2,142 shares in the last quarter. Elkfork Partners LLC lifted its stake in Commercial Metals by 13.6% in the 1st quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock valued at $105,000 after buying an additional 660 shares in the last quarter. Point72 Asia Hong Kong Ltd lifted its stake in Commercial Metals by 367.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after buying an additional 5,182 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in Commercial Metals by 13.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $134,000 after buying an additional 840 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Commercial Metals by 56.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock valued at $134,000 after buying an additional 2,492 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other 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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