Analysts Set Commercial Metals (NYSE:CMC) PT at $64.67

Commercial Metals (NYSE:CMC) has been given an average rating of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $64.17.

Several equities research analysts have commented on the company. Morgan Stanley initiated coverage on Commercial Metals in a report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 target price on the stock. Jefferies Financial Group dropped their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. BMO Capital Markets dropped their target price 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, January 3rd. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd.

Commercial Metals Trading Down 2.5 %

Shares of NYSE CMC opened at $47.65 on Monday. Commercial Metals has a 1 year low of $47.41 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The firm has a 50-day moving average of $56.73 and a 200 day moving average of $54.92. The stock has a market cap of $5.43 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the business earned $1.49 earnings per share. As a group, sell-side analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Hedge Funds Weigh In On Commercial Metals

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Commercial Metals by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after purchasing an additional 66,092 shares during the period. Principal Financial Group Inc. raised its holdings in Commercial Metals by 1.1% in 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 purchasing an additional 17,931 shares during the period. Vestcor Inc raised its holdings in Commercial Metals by 108.0% in the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 9,400 shares during the period. Seizert Capital Partners LLC raised its holdings in Commercial Metals by 32.5% during the third quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock valued at $4,170,000 after acquiring an additional 18,600 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after acquiring an additional 18,262 shares during the period. 86.90% of the stock is owned by institutional investors.

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.