Commercial Metals (CMC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Commercial Metals (NYSE:CMC) have received a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.57.

Several brokerages recently issued reports on CMC. Zacks Investment Research raised shares of Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research note on Tuesday, October 17th. Jefferies Group reduced their price objective on shares of Commercial Metals from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 30th. Finally, Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Thursday, December 7th.

In other Commercial Metals news, EVP Tracy L. Porter sold 13,601 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total transaction of $340,569.04. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at $250.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy L. Porter sold 6,935 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total transaction of $174,345.90. Following the transaction, the executive vice president now directly owns 10 shares in the company, valued at approximately $251.40. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in Commercial Metals during the third quarter worth approximately $101,000. Riverhead Capital Management LLC raised its stake in 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 worth $134,000 after purchasing an additional 2,492 shares during the period. Koch Industries Inc. acquired a new stake in shares of Commercial Metals in the second quarter worth $270,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Commercial Metals in the third quarter worth $282,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Commercial Metals in the third quarter worth $295,000. 88.58% of the stock is currently owned by institutional investors.

Shares of Commercial Metals (NYSE:CMC) opened at $25.02 on Tuesday. The company has a market cap of $2,894.80, a P/E ratio of 37.91 and a beta of 1.26. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $25.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.20 and a quick ratio of 2.07.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.13). Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. sell-side analysts predict that Commercial Metals will post 1.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, January 12th. Commercial Metals’s payout ratio is 72.73%.

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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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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