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

Shares of Commercial Metals (NYSE:CMC) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $64.67.

A number of analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. BMO Capital Markets dropped their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday. 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 assumed coverage on Commercial Metals in a report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price for the company. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday.

Institutional Trading of Commercial Metals

Several large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Commercial Metals in the third quarter worth $66,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares in the last quarter. KBC Group NV lifted its holdings in Commercial Metals by 15.9% in the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares during the period. Highland Capital Management LLC bought a new position in Commercial Metals in the 3rd quarter valued at about $206,000. Finally, Harbor Capital Advisors Inc. increased its stake in Commercial Metals by 29.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock valued at $209,000 after buying an additional 870 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Down 0.5 %

Shares of Commercial Metals stock opened at $48.89 on Monday. The business has a 50-day moving average price of $57.06 and a 200 day moving average price of $55.03. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week high of $64.53. The firm has a market cap of $5.57 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27.

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). The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, sell-side analysts forecast that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals’s dividend payout ratio is presently 17.39%.

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.