Commercial Metals (NYSE:CMC) Receives $62.33 Consensus Price Target from Analysts

Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.33.

CMC has been the topic of several recent research reports. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. BMO Capital Markets decreased their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Finally, UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CMC. Heck Capital Advisors LLC bought a new position in Commercial Metals in the fourth quarter valued at $34,000. V Square Quantitative Management LLC boosted its position in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period. South Plains Financial Inc. purchased a new stake in Commercial Metals during the fourth quarter valued at about $73,000. Jones Financial Companies Lllp lifted its holdings in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after buying an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Commercial Metals in the fourth quarter valued at $105,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.8 %

CMC stock opened at $48.99 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock has a market capitalization of $5.57 billion, a P/E ratio of 44.13, a P/E/G ratio of 2.62 and a beta of 1.18. The business has a 50-day moving average of $49.93 and a 200-day moving average of $53.56. Commercial Metals has a fifty-two week low of $45.50 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.49 EPS. On average, sell-side analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. Commercial Metals’s payout ratio is 64.86%.

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.