Commercial Metals (CMC) Lifted to Outperform at Macquarie

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Macquarie upgraded shares of Commercial Metals (NYSE:CMC) from a neutral rating to an outperform rating in a report issued on Friday morning, MarketBeat.com reports. Macquarie currently has $17.37 target price on the basic materials company’s stock, up from their previous target price of $15.23.

CMC has been the topic of several other research reports. Goldman Sachs Group raised Commercial Metals from a neutral rating to a buy rating and set a $21.00 price target on the stock in a research note on Monday, January 14th. Cowen initiated coverage on Commercial Metals in a research note on Tuesday, January 8th. They issued a market perform rating and a $17.00 price target on the stock. Longbow Research set a $25.00 price target on Commercial Metals and gave the company a buy rating in a research note on Monday, December 3rd. Zacks Investment Research raised Commercial Metals from a hold rating to a strong-buy rating and set a $18.00 price target on the stock in a research note on Wednesday, January 2nd. Finally, ValuEngine downgraded Commercial Metals from a sell rating to a strong sell rating in a research note on Friday, February 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $20.71.

CMC opened at $16.66 on Friday. Commercial Metals has a 1 year low of $15.23 and a 1 year high of $24.95. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 0.86 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 2.75.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, analysts expect that Commercial Metals will post 1.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, April 5th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, April 4th. Commercial Metals’s dividend payout ratio is currently 32.21%.

Large investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. increased its position in Commercial Metals by 1.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 58,610 shares of the basic materials company’s stock worth $939,000 after buying an additional 800 shares during the last quarter. SignalPoint Asset Management LLC increased its position in Commercial Metals by 3.5% during the fourth quarter. SignalPoint Asset Management LLC now owns 25,331 shares of the basic materials company’s stock worth $406,000 after buying an additional 852 shares during the last quarter. Retirement Systems of Alabama increased its position in Commercial Metals by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 152,509 shares of the basic materials company’s stock worth $2,443,000 after buying an additional 1,290 shares during the last quarter. Bank of Montreal Can increased its position in Commercial Metals by 1.4% during the fourth quarter. Bank of Montreal Can now owns 92,612 shares of the basic materials company’s stock worth $1,483,000 after buying an additional 1,290 shares during the last quarter. Finally, American International Group Inc. increased its position in Commercial Metals by 0.4% during the fourth quarter. American International Group Inc. now owns 314,320 shares of the basic materials company’s stock worth $5,035,000 after buying an additional 1,300 shares during the last quarter. 89.02% of the stock is currently owned by institutional investors and hedge funds.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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