Bank of America Has Lowered Expectations for Commercial Metals (NYSE:CMC) Stock Price

Commercial Metals (NYSE:CMC) had its price objective decreased by research analysts at Bank of America from $84.00 to $78.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Bank of America‘s price target would indicate a potential upside of 24.62% from the stock’s current price.

Several other analysts also recently weighed in on CMC. Morgan Stanley boosted their target price on Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a research report on Friday, June 5th. KeyCorp assumed coverage on Commercial Metals in a research note on Wednesday, March 25th. They issued a “sector weight” rating for the company. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their target price for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. Finally, Barclays initiated coverage on shares of Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.45.

Commercial Metals Stock Up 4.1%

Commercial Metals stock opened at $62.59 on Thursday. The firm has a market capitalization of $6.92 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.35 and a beta of 1.54. The company has a current ratio of 2.33, a quick ratio of 1.54 and a debt-to-equity ratio of 0.73. Commercial Metals has a twelve month low of $49.66 and a twelve month high of $84.87. The stock’s fifty day simple moving average is $70.93 and its 200-day simple moving average is $70.75.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, June 25th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.Commercial Metals’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. As a group, equities analysts expect that Commercial Metals will post 6.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Commercial Metals

Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its stake in Commercial Metals by 0.6% in the 4th quarter. Lazard Asset Management LLC now owns 23,199 shares of the basic materials company’s stock valued at $1,606,000 after buying an additional 133 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Commercial Metals by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 3,610 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 147 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in shares of Commercial Metals by 3.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 149 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Commercial Metals by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 23,554 shares of the basic materials company’s stock valued at $1,630,000 after acquiring an additional 155 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Commercial Metals by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock valued at $256,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Key Commercial Metals News

Here are the key news stories impacting Commercial Metals this week:

• Positive Sentiment: Zacks Research raised multiple earnings estimates for Commercial Metals, including FY2026 to $6.62 EPS, FY2027 to $7.06 EPS, and FY2028 to $7.22 EPS, suggesting analysts see stronger profitability ahead. Commercial Metals analyst estimate updates
• Positive Sentiment: The firm also lifted several quarterly forecasts, including Q1 2027, Q2 2027, Q3 2027, Q4 2027, Q1 2028, Q2 2028, and Q3 2028, reinforcing the view that earnings momentum may remain solid over the next few years. Commercial Metals analyst estimate updates
• Neutral Sentiment: Bank of America cut its price target on Commercial Metals to $78 from $84, but kept a buy rating, which signals less upside than before but still an overall favorable stance. Bank of America price target update
• Neutral Sentiment: Brokerage consensus remains at “Moderate Buy,” indicating that Wall Street still generally views Commercial Metals as attractively valued, despite some mixed individual ratings such as Zacks’ “Strong Sell.” Consensus rating update

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.