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

Shares of Commercial Metals (NYSE:CMC) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $64.67.

CMC has been the subject of a number of research reports. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday. Morgan Stanley assumed coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective for the company. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. UBS Group restated a “sell” rating and set a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a report on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company.

Commercial Metals Stock Down 0.5 %

Shares of CMC opened at $48.89 on Monday. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week high of $64.53. The company’s fifty day moving average is $57.06 and its two-hundred day moving average is $55.03. The firm has a market cap of $5.57 billion, a PE ratio of 11.81, a price-to-earnings-growth 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.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share 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 firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Analysts forecast that Commercial Metals will post 4.26 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Institutional Trading of Commercial Metals

Large investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new position in Commercial Metals in the third quarter valued at about $66,000. GAMMA Investing LLC raised its position 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 purchasing an additional 944 shares in the last quarter. KBC Group NV boosted its stake in shares of Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after buying an additional 425 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Commercial Metals during the third quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Commercial Metals by 29.7% in the third quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after buying an additional 870 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.