Commercial Metals Company (NYSE:CMC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Commercial Metals Company (NYSE:CMC) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $72.70.

Several equities analysts have recently issued reports on CMC shares. Wells Fargo & Company raised their price target on shares of Commercial Metals from $68.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. The Goldman Sachs Group restated a “buy” rating and issued a $84.00 price objective on shares of Commercial Metals in a report on Tuesday, December 30th. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Zacks Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Citigroup upped their price target on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson purchased 1,722 shares of the business’s stock in a transaction on Monday, October 20th. The shares were acquired at an average price of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the acquisition, the director owned 6,722 shares in the company, valued at approximately $390,480.98. The trade was a 34.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors have recently bought and sold shares of CMC. Root Financial Partners LLC purchased a new stake in Commercial Metals in the 3rd quarter valued at $25,000. Rothschild Investment LLC grew its stake in shares of Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 324 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Commercial Metals by 282.3% in the second quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 511 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Commercial Metals by 51.4% during the second quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

NYSE:CMC opened at $75.99 on Friday. The stock has a market cap of $8.43 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 0.39 and a beta of 1.49. The company has a current ratio of 4.47, a quick ratio of 3.70 and a debt-to-equity ratio of 0.77. The stock’s 50-day moving average is $66.98 and its 200-day moving average is $59.99. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $76.21.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 19th will be paid a $0.18 dividend. The ex-dividend date is Friday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Commercial Metals’s payout ratio is currently 18.56%.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.