Commercial Metals (NYSE:CMC) Receives $63.83 Average Target Price from Analysts

Shares of Commercial Metals (NYSE:CMC) have been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $62.33.

CMC has been the subject of several research reports. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $54.00 in a research note on Friday, January 10th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group began coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. BMO Capital Markets dropped their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. Finally, Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Institutional Trading of Commercial Metals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals during the fourth quarter valued at about $34,000. V Square Quantitative Management LLC boosted its position in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares during the period. nVerses Capital LLC acquired a new stake in Commercial Metals in the 3rd quarter valued at approximately $66,000. Jones Financial Companies Lllp raised its position in Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $50.10 on Friday. The business’s 50 day moving average price is $52.43 and its 200-day moving average price is $54.18. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market capitalization of $5.69 billion, a PE ratio of 45.14, a P/E/G ratio of 2.49 and a beta of 1.18.

Commercial Metals (NYSE:CMC) last announced its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.49 EPS. As a group, equities research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

Commercial Metals Company Profile

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.