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

Shares of Commercial Metals (NYSE:CMC) have received a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.86.

Several research analysts recently weighed in on CMC shares. ValuEngine downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Longbow Research assumed coverage on shares of Commercial Metals in a report on Friday. They set a “buy” rating and a $27.00 price objective for the company. Goldman Sachs assumed coverage on shares of Commercial Metals in a report on Tuesday, March 20th. They set a “sell” rating and a $25.00 price objective for the company. Deutsche Bank dropped their price objective on shares of Commercial Metals from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, March 29th. Finally, Bank of America downgraded shares of Commercial Metals from a “buy” rating to a “neutral” rating and increased their price objective for the company from $25.36 to $28.00 in a report on Wednesday, March 14th. They noted that the move was a valuation call.

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Shares of Commercial Metals stock opened at $19.35 on Friday. The firm has a market capitalization of $2,352.46, a P/E ratio of 31.21, a PEG ratio of 0.34 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 3.11 and a debt-to-equity ratio of 0.55. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $26.72.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 22nd. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.19 billion. Commercial Metals had a net margin of 1.15% and a return on equity of 8.05%. Commercial Metals’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. sell-side analysts forecast that Commercial Metals will post 1.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Wednesday, April 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, April 3rd. Commercial Metals’s dividend payout ratio (DPR) is presently 77.42%.

In other news, EVP Tracy L. Porter sold 6,935 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total transaction of $174,345.90. Following the sale, the executive vice president now directly owns 10 shares in the company, valued at approximately $251.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adam R. Hickey sold 20,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $25.85, for a total transaction of $517,000.00. Following the sale, the vice president now owns 15,632 shares in the company, valued at $404,087.20. The disclosure for this sale can be found here. Insiders have sold a total of 60,536 shares of company stock valued at $1,541,915 in the last three months. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CMC. Strs Ohio raised its position in shares of Commercial Metals by 176.5% during the 4th quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,000 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Commercial Metals during the 4th quarter valued at about $129,000. Global X Management Co. LLC raised its position in shares of Commercial Metals by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock valued at $171,000 after buying an additional 3,450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Commercial Metals by 38.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after buying an additional 2,239 shares in the last quarter. Finally, CoreCommodity Management LLC purchased a new stake in shares of Commercial Metals during the 4th quarter valued at about $223,000. Hedge funds and other institutional investors 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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