Analysts Set Commercial Metals (NYSE:CMC) Target Price at $60.33

Shares of Commercial Metals (NYSE:CMC) have been given a consensus rating of “Hold” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $60.33.

A number of equities analysts have issued reports on CMC shares. Jefferies Financial Group cut their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group reduced their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Finally, Morgan Stanley cut their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th.

Commercial Metals Stock Performance

Commercial Metals stock opened at $42.32 on Wednesday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The stock’s 50-day moving average is $46.23 and its 200-day moving average is $51.47.

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 analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s payout ratio is 120.00%.

Insider Buying and Selling

In other news, Director John R. Mcpherson purchased 2,475 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commercial Metals

Institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its stake in Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock valued at $201,178,000 after acquiring an additional 243,921 shares during the period. Geode Capital Management LLC lifted its position in Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its stake in Commercial Metals by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after acquiring an additional 245,468 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after buying an additional 893,094 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Commercial Metals by 34.1% during the fourth quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company’s stock worth $87,040,000 after acquiring an additional 446,317 shares in the last quarter. 86.90% of the stock is owned by 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.