Shares of Commercial Metals Company (NYSE:CMC) have been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.63.
Several analysts have issued reports on the stock. Citigroup Inc. lowered their price objective on shares of Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Macquarie assumed coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 price objective for the company. Bank of America Corporation reaffirmed a “neutral” rating and issued a $21.00 price objective (up previously from $20.00) on shares of Commercial Metals in a research report on Tuesday, September 5th. Zacks Investment Research downgraded shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research report on Monday, September 4th. Finally, Clarkson Capital reaffirmed a “sell” rating and issued a $16.00 price objective on shares of Commercial Metals in a research report on Tuesday, August 15th.
Commercial Metals (NYSE:CMC) opened at 18.07 on Wednesday. The company has a 50-day moving average of $18.26 and a 200-day moving average of $18.68. The stock has a market cap of $2.09 billion, a P/E ratio of 27.93 and a beta of 1.22. Commercial Metals has a 52 week low of $15.08 and a 52 week high of $24.64.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.11. Commercial Metals had a net margin of 1.57% and a return on equity of 7.84%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.31 earnings per share. Commercial Metals’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts predict that Commercial Metals will post $0.89 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Koch Industries Inc. acquired a new stake in shares of Commercial Metals during the second quarter worth approximately $270,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Commercial Metals during the second quarter worth approximately $2,463,000. Sterling Capital Management LLC grew its position in shares of Commercial Metals by 107.3% during the second quarter. Sterling Capital Management LLC now owns 64,763 shares of the basic materials company’s stock worth $1,258,000 after buying an additional 33,524 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Commercial Metals by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 255,343 shares of the basic materials company’s stock worth $4,962,000 after buying an additional 3,394 shares in the last quarter. Finally, JHL Capital Group LLC acquired a new stake in shares of Commercial Metals during the second quarter worth approximately $6,023,000. 90.64% of the stock is owned by institutional investors and hedge funds.
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.
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