Commercial Metals (NYSE:CMC) Receives $65.25 Average Price Target from Analysts

Shares of Commercial Metals (NYSE:CMC) have been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $65.25.

Several equities analysts have recently commented on CMC shares. Jefferies Financial Group began coverage on Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th.

Commercial Metals Price Performance

Shares of CMC stock opened at $60.43 on Friday. The firm has a market cap of $6.88 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.56 and a beta of 1.14. The firm has a fifty day moving average of $55.32 and a two-hundred day moving average of $54.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. Commercial Metals has a 1-year low of $43.52 and a 1-year high of $63.40.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. As a group, research analysts anticipate that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s payout ratio is currently 17.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners grew its holdings in Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after acquiring an additional 3,063,241 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Commercial Metals during the second quarter worth approximately $50,132,000. Jacobs Levy Equity Management Inc. grew its position in Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after buying an additional 686,519 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Commercial Metals in the third quarter valued at $16,731,000. Finally, Van ECK Associates Corp boosted its stake in shares of Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after acquiring an additional 282,511 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

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.