Commercial Metals (NYSE:CMC) Downgraded by Deutsche Bank

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Deutsche Bank downgraded shares of Commercial Metals (NYSE:CMC) from a buy rating to a hold rating in a research report released on Thursday, BenzingaRatingsTable reports. Deutsche Bank currently has $18.00 price target on the basic materials company’s stock. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Citigroup set a $74.00 price target on shares of Realty Income and gave the company a hold rating in a report on Tuesday, June 11th. Macquarie reaffirmed a buy rating on shares of Neo Lithium in a report on Friday, March 22nd. TheStreet downgraded shares of Wayside Technology Group from a b- rating to a c rating in a report on Wednesday, May 22nd. Finally, Bank of America set a $77.00 price target on shares of Zscaler and gave the company a neutral rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $19.10.

CMC opened at $17.73 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.86 and a current ratio of 3.00. The stock has a market capitalization of $2.09 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 2.29 and a beta of 1.68. The business has a 50 day simple moving average of $15.92. Commercial Metals has a 12-month low of $13.27 and a 12-month high of $22.87.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, June 20th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. As a group, research analysts predict that Commercial Metals will post 2.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, July 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, July 3rd. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.

Several hedge funds have recently added to or reduced their stakes in CMC. Norges Bank purchased a new position in shares of Commercial Metals in the fourth quarter worth $20,566,000. Citigroup Inc. lifted its holdings in shares of Commercial Metals by 5,192.5% in the first quarter. Citigroup Inc. now owns 1,101,942 shares of the basic materials company’s stock worth $18,821,000 after buying an additional 1,081,121 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Commercial Metals in the first quarter worth $14,461,000. Deprince Race & Zollo Inc. lifted its holdings in shares of Commercial Metals by 40.9% in the first quarter. Deprince Race & Zollo Inc. now owns 2,544,127 shares of the basic materials company’s stock worth $43,454,000 after buying an additional 738,399 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Commercial Metals by 2.8% in the fourth quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock worth $215,565,000 after buying an additional 370,343 shares in the last quarter. 90.61% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Company Profile

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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