Commercial Metals (NYSE:CMC) Price Target Cut to $54.00 by Analysts at BMO Capital Markets

Commercial Metals (NYSE:CMC) had its price objective reduced by analysts at BMO Capital Markets from $58.00 to $54.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 14.07% from the company’s current price.

A number of other equities research analysts also recently weighed in on CMC. Jefferies Financial Group dropped their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley dropped their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Finally, UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their target price for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.17.

Commercial Metals Price Performance

NYSE:CMC opened at $47.34 on Friday. The firm has a market cap of $5.38 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $48.87 and its two-hundred day moving average price is $52.77.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. Commercial Metals’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals in the fourth quarter valued at approximately $33,000. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period. South Plains Financial Inc. acquired a new position in Commercial Metals during the fourth quarter worth $73,000. Finally, Jones Financial Companies Lllp boosted its holdings in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.