Commercial Metals (NYSE:CMC) Stock Rating Lowered by BNP Paribas

Commercial Metals (NYSE:CMC) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

Several other equities analysts also recently weighed in on CMC. Morgan Stanley initiated coverage on shares of Commercial Metals in a report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price objective on Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, UBS Group reissued a “sell” rating and set a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.67.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $48.89 on Friday. The stock has a market cap of $5.57 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The stock’s fifty day moving average is $57.06 and its 200 day moving average is $55.00. Commercial Metals has a one year low of $47.42 and a one year high of $64.53.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sell-side analysts anticipate that Commercial Metals will post 4.26 earnings per share for the current year.

Hedge Funds Weigh In On Commercial Metals

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 944 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 valued at $59,420,000 after purchasing an additional 66,092 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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. Franklin Resources Inc. increased its position in shares of Commercial Metals by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,026,351 shares of the basic materials company’s stock valued at $55,433,000 after purchasing an additional 3,396 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Commercial Metals by 25.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,610 shares of the basic materials company’s stock valued at $583,000 after buying an additional 2,156 shares during the period. Institutional investors own 86.90% of the company’s stock.

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.