Commercial Metals Company (CMC) Given Average Recommendation of “Hold” by Analysts

Shares of Commercial Metals Company (NYSE:CMC) have received an average recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.17.

A number of research firms have recently issued reports on CMC. Citigroup Inc. raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, June 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 target price on shares of Commercial Metals in a research report on Wednesday, May 24th. BidaskClub cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Bank of America Corporation cut shares of Commercial Metals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $19.00 in a research report on Thursday, June 8th.

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Shares of Commercial Metals (NYSE:CMC) opened at 18.63 on Tuesday. Commercial Metals has a 12 month low of $14.58 and a 12 month high of $24.64. The stock’s 50 day moving average price is $19.35 and its 200-day moving average price is $19.34. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 28.79 and a beta of 1.22.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.11. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. Commercial Metals’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. On average, equities research analysts predict that Commercial Metals will post $0.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.57%. The ex-dividend date was Monday, July 3rd. Commercial Metals’s payout ratio is currently 73.85%.

A number of large investors have recently bought and sold shares of CMC. BlackRock Inc. increased its position in shares of Commercial Metals by 17,672.9% in the first quarter. BlackRock Inc. now owns 14,566,855 shares of the basic materials company’s stock valued at $278,663,000 after buying an additional 14,484,894 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Commercial Metals by 2,256.4% in the first quarter. Systematic Financial Management LP now owns 1,810,577 shares of the basic materials company’s stock valued at $34,636,000 after buying an additional 1,733,742 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Commercial Metals by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,986,048 shares of the basic materials company’s stock valued at $76,253,000 after buying an additional 1,201,973 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Commercial Metals by 167.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,900,269 shares of the basic materials company’s stock valued at $36,922,000 after buying an additional 1,190,364 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Commercial Metals by 322.3% in the second quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock valued at $20,277,000 after buying an additional 796,477 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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