Commercial Metals (NYSE:CMC) Receives $61.17 Average PT from Analysts

Shares of Commercial Metals (NYSE:CMC) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $60.33.

CMC has been the subject of several analyst reports. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley lowered their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. BMO Capital Markets cut their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday. Jefferies Financial Group lowered their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company.

Institutional Trading of Commercial Metals

A number of hedge funds have recently modified their holdings of CMC. State Street Corp raised its holdings in Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after acquiring an additional 24,665 shares during the period. Boston Partners grew its position in shares of Commercial Metals by 6.4% in the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock valued at $201,178,000 after purchasing an additional 243,921 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after purchasing an additional 28,019 shares during the period. Victory Capital Management Inc. lifted its holdings in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock worth $120,152,000 after purchasing an additional 245,468 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after purchasing an additional 893,094 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $48.89 on Friday. The company has a fifty day moving average price of $48.87 and a 200 day moving average price of $52.74. The firm has a market cap of $5.56 billion, a PE ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53.

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

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.