Commercial Metals (NYSE:CMC) Given Consensus Rating of “Hold” by Brokerages

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

Several research analysts recently issued reports on CMC shares. 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, December 12th. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a report on Friday, October 18th. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, 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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC purchased a new position in shares of Commercial Metals in the second quarter worth about $50,132,000. Jacobs Levy Equity Management Inc. boosted its holdings in Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after purchasing an additional 686,519 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Commercial Metals during the 3rd quarter worth about $16,731,000. Van ECK Associates Corp raised its stake in shares of Commercial Metals by 204.3% during the 3rd 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, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Commercial Metals by 163.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock valued at $11,756,000 after buying an additional 136,367 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Commercial Metals stock opened at $51.24 on Thursday. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53. The company’s 50-day moving average is $57.97 and its 200 day moving average is $55.19. The firm has a market capitalization of $5.84 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data 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 business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. Research analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s payout ratio is currently 17.39%.

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.