Commercial Metals (NYSE:CMC) – Equities research analysts at Jefferies Group increased their FY2018 earnings estimates for Commercial Metals in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $1.82 per share for the year, up from their prior forecast of $1.53. Jefferies Group currently has a “Buy” rating and a $24.00 target price on the stock.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Bank of America upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Finally, Citigroup dropped their price target on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Four investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.88.

Shares of Commercial Metals (NYSE:CMC) traded up $0.55 during midday trading on Thursday, reaching $25.82. The company’s stock had a trading volume of 1,760,000 shares, compared to its average volume of 2,140,000. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $25.90. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. The company has a market cap of $3,010.00, a P/E ratio of 47.81 and a beta of 1.26.

Commercial Metals (NYSE:CMC) last issued its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue was up 24.6% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the company. 3G Capital Partners LP bought a new stake in shares of Commercial Metals during the 3rd quarter valued at about $9,515,000. Koch Industries Inc. purchased a new position in shares of Commercial Metals during the 2nd quarter valued at about $270,000. Russell Investments Group Ltd. raised its holdings in shares of Commercial Metals by 4,203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after buying an additional 575,835 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Commercial Metals during the 2nd quarter valued at about $29,018,000. Finally, Hodges Capital Management Inc. raised its holdings in shares of Commercial Metals by 1.6% during the 3rd quarter. Hodges Capital Management Inc. now owns 1,057,486 shares of the basic materials company’s stock valued at $20,124,000 after buying an additional 16,490 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.86%. Commercial Metals’s dividend payout ratio (DPR) is presently 88.89%.

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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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