Jefferies Group Reiterates “Buy” Rating for Commercial Metals (CMC)

Commercial Metals (NYSE:CMC)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group in a note issued to investors on Friday. Jefferies Group also issued estimates for Commercial Metals’ Q4 2018 earnings at $0.48 EPS.

Several other research firms also recently commented on CMC. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Bank of America downgraded Commercial Metals from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $25.36 to $28.00 in a report on Wednesday, March 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Commercial Metals from a “neutral” rating to an “overweight” rating in a report on Friday, March 9th. Goldman Sachs began coverage on Commercial Metals in a report on Tuesday, March 20th. They set a “sell” rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, March 20th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $22.63.

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Commercial Metals (NYSE:CMC) opened at $20.39 on Friday. The company has a market capitalization of $2,378.13, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.33 and a beta of 1.21. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $26.72. The company has a current ratio of 3.11, a quick ratio of 2.07 and a debt-to-equity ratio of 0.55.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 22nd. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.19 billion. Commercial Metals had a return on equity of 8.05% and a net margin of 1.15%. Commercial Metals’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. equities analysts predict that Commercial Metals will post 1.5 earnings per share for the current fiscal year.

In other news, EVP Tracy L. Porter sold 13,601 shares of Commercial Metals stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the transaction, the executive vice president now directly owns 10 shares in the company, valued at approximately $250.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy L. Porter sold 6,935 shares of Commercial Metals stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the transaction, the executive vice president now owns 10 shares in the company, valued at $251.40. The disclosure for this sale can be found here. Insiders sold a total of 60,536 shares of company stock worth $1,541,915 over the last quarter. Company insiders own 1.50% of the company’s stock.

Several large investors have recently made changes to their positions in CMC. First Trust Advisors LP increased its holdings in shares of Commercial Metals by 31.3% in the 3rd quarter. First Trust Advisors LP now owns 78,350 shares of the basic materials company’s stock valued at $1,491,000 after acquiring an additional 18,696 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $282,000. Russell Investments Group Ltd. increased its holdings in shares of Commercial Metals by 4,203.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after acquiring an additional 575,835 shares during the period. Quantbot Technologies LP purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $780,000. Finally, Cipher Capital LP purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $1,044,000. Institutional investors and hedge funds own 88.23% of the company’s stock.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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