Commercial Metals (NYSE:CMC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Commercial Metals (NYSE:CMC) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $61.17.

A number of research firms have issued reports on CMC. Jefferies Financial Group cut their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. BMO Capital Markets decreased their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd.

Commercial Metals Stock Down 1.5 %

CMC opened at $46.67 on Friday. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $48.86 and a 200-day moving average price of $52.72. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Commercial Metals’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.54%. Commercial Metals’s payout ratio is presently 64.86%.

Institutional Trading of Commercial Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new stake in Commercial Metals during the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the fourth quarter valued at $34,000. V Square Quantitative Management LLC increased its holdings in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares during the last quarter. South Plains Financial Inc. purchased a new stake in Commercial Metals in the 4th quarter worth $73,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the last quarter. 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.