Analysts Set Commercial Metals (NYSE:CMC) PT at $67.20

Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $65.40.

A number of equities analysts have recently commented on the company. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. UBS Group reissued a “sell” rating and issued a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday. Finally, BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th.

Commercial Metals Price Performance

NYSE:CMC opened at $57.21 on Thursday. Commercial Metals has a 52 week low of $47.27 and a 52 week high of $64.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm’s 50-day simple moving average is $57.90 and its 200 day simple moving average is $55.22. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. As a group, sell-side analysts predict that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Hedge Funds Weigh In On Commercial Metals

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after purchasing an additional 24,665 shares during the last quarter. Geode Capital Management LLC increased its stake in Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after buying an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its stake in Commercial Metals by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after buying an additional 41,206 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after buying an additional 17,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after buying an additional 18,262 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.