Commercial Metals (NYSE:CMC) Receives Average Recommendation of “Hold” from Analysts

Shares of Commercial Metals (NYSE:CMC) have been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $63.83.

Several equities research analysts recently commented on the stock. BMO Capital Markets cut their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Jefferies Financial Group decreased their price objective 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. Morgan Stanley assumed coverage on Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective on the stock. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock.

Institutional Investors Weigh In On Commercial Metals

Several hedge funds and other institutional investors have recently bought and sold shares of CMC. Thompson Siegel & Walmsley LLC bought a new position in shares of Commercial Metals in the 2nd quarter worth $50,132,000. Jacobs Levy Equity Management Inc. raised its holdings in Commercial Metals by 122.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after buying an additional 686,519 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Commercial Metals in the third quarter valued at $16,731,000. Van ECK Associates Corp grew its holdings in shares of Commercial Metals by 204.3% during the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock valued at $21,570,000 after buying an additional 282,511 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Commercial Metals by 17.5% during the second quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company’s stock worth $42,203,000 after acquiring an additional 115,326 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Down 1.2 %

Shares of CMC opened at $47.02 on Monday. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $56.46 and its 200 day moving average price is $54.83.

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

Commercial Metals Announces Dividend

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 paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

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.