Commercial Metals (CMC) Cut to “C+” at TheStreet

TheStreet cut shares of Commercial Metals (NYSE:CMC) from a b- rating to a c+ rating in a research report report published on Wednesday morning, TheStreetRatingsTable reports.

CMC has been the subject of several other research reports. ValuEngine raised Commercial Metals from a strong sell rating to a sell rating in a report on Friday, March 22nd. Macquarie raised Commercial Metals from a neutral rating to an outperform rating and boosted their price objective for the stock from $15.23 to $17.37 in a report on Friday, March 22nd. Finally, Cowen reissued a market perform rating and set a $18.50 price objective (up previously from $17.00) on shares of Commercial Metals in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $20.23.

CMC stock opened at $14.71 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.75 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.85 and a beta of 1.30. Commercial Metals has a twelve month low of $14.21 and a twelve month high of $24.95.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 21st. The basic materials company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Sell-side analysts expect that Commercial Metals will post 1.93 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CMC. JPMorgan Chase & Co. grew its holdings in shares of Commercial Metals by 50.8% during the third quarter. JPMorgan Chase & Co. now owns 749,845 shares of the basic materials company’s stock worth $15,387,000 after purchasing an additional 252,682 shares in the last quarter. Bank of Montreal Can lifted its position in Commercial Metals by 1.4% in the 4th 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. James Investment Research Inc. bought a new stake in Commercial Metals in the 4th quarter worth approximately $976,000. Quantamental Technologies LLC bought a new stake in Commercial Metals in the 4th quarter worth approximately $47,000. Finally, Arizona State Retirement System lifted its position in Commercial Metals by 1.6% in the 4th quarter. Arizona State Retirement System now owns 84,428 shares of the basic materials company’s stock worth $1,353,000 after buying an additional 1,342 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

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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