Commercial Metals (NYSE:CMC) Given Consensus Rating of “Hold” by Analysts

Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $63.83.

Several equities research analysts recently weighed in on CMC shares. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Morgan Stanley initiated coverage on shares of Commercial Metals in a report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 target price on the stock. BMO Capital Markets dropped their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $47.02 on Monday. Commercial Metals has a fifty-two week low of $45.50 and a fifty-two week high of $64.53. The company has a 50 day simple moving average of $56.61 and a two-hundred day simple moving average of $54.87. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

Commercial Metals (NYSE:CMC) last announced its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. Analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Institutional Trading of Commercial Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Commercial Metals in the 3rd quarter worth about $66,000. GAMMA Investing LLC increased its holdings in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after buying an additional 944 shares during the last quarter. KBC Group NV increased its holdings in shares of Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after buying an additional 425 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Commercial Metals in the 3rd quarter worth about $206,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Commercial Metals by 29.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after buying an additional 870 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.