Commercial Metals Company (NYSE:CMC) – Research analysts at Jefferies Group lifted their FY2018 earnings estimates for shares of Commercial Metals in a research note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings per share of $2.06 for the year, up from their prior forecast of $1.66. Jefferies Group has a “Buy” rating on the stock.

CMC has been the topic of several other research reports. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Bank of America Corporation reissued a “neutral” rating and set a $20.00 target price (up previously from $19.00) on shares of Commercial Metals in a research report on Sunday, June 25th. Citigroup Inc. dropped their target price on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Finally, Clarkson Capital reissued a “sell” rating and set a $16.00 target price on shares of Commercial Metals in a research report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and an average price target of $20.63.

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Shares of Commercial Metals (CMC) traded up 0.533% on Thursday, reaching $21.705. 918,321 shares of the company were exchanged. The firm’s 50 day moving average price is $18.96 and its 200 day moving average price is $18.75. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 33.547 and a beta of 1.22. Commercial Metals has a 52 week low of $15.16 and a 52 week high of $24.64.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Commercial Metals by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 522 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of 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 acquiring an additional 5,182 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 2,492 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of Commercial Metals by 20.2% in the 2nd quarter. LS Investment Advisors LLC now owns 9,197 shares of the basic materials company’s stock valued at $179,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new stake in shares of Commercial Metals in the 2nd quarter valued at $202,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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