Commercial Metals (NYSE:CMC) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Commercial Metals (NYSE:CMC) in a report issued on Monday morning, MarketBeat reports. The firm issued a buy rating and a $75.00 price objective on the basic materials company’s stock.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.20.

Commercial Metals Price Performance

Commercial Metals stock opened at $63.32 on Monday. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $56.45 and a 200 day moving average price of $54.86. Commercial Metals has a 12-month low of $44.93 and a 12-month high of $63.75. The stock has a market cap of $7.22 billion, a P/E ratio of 14.90, a PEG ratio of 2.74 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Sell-side analysts anticipate that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, October 31st. Commercial Metals’s dividend payout ratio is currently 17.39%.

Institutional Investors Weigh In On Commercial Metals

Several large investors have recently added to or reduced their stakes in CMC. nVerses Capital LLC acquired a new position in shares of Commercial Metals in the third quarter worth $66,000. Archer Investment Corp acquired a new position in Commercial Metals during the 2nd quarter worth $77,000. GAMMA Investing LLC increased its holdings in Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock worth $86,000 after purchasing an additional 282 shares during the period. KBC Group NV raised its position in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 425 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Commercial Metals in the 2nd quarter valued at about $195,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.