Commercial Metals (NYSE:CMC) Rating Increased to B at TheStreet

Commercial Metals (NYSE:CMC) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a report issued on Tuesday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on CMC. Bank of America set a $77.00 price objective on Zscaler and gave the company a “neutral” rating in a research report on Friday, May 31st. Macquarie restated a “buy” rating on shares of Neo Lithium in a research report on Friday, March 22nd. Citigroup set a $74.00 price objective on Realty Income and gave the company a “hold” rating in a research report on Tuesday, June 11th. Cowen set a $27.00 price objective on Schnitzer Steel Industries and gave the company a “hold” rating in a research report on Tuesday, April 9th. Finally, ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Commercial Metals currently has an average rating of “Hold” and a consensus price target of $19.10.

Shares of CMC stock opened at $17.97 on Tuesday. The firm’s 50 day moving average is $16.24. 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 $2.14 billion, a PE ratio of 12.06, a P/E/G ratio of 2.34 and a beta of 1.68. Commercial Metals has a twelve month low of $13.27 and a twelve month high of $22.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, June 20th. The basic materials company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Commercial Metals had a return on equity of 14.34% and a net margin of 2.92%. Commercial Metals’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Research analysts anticipate that Commercial Metals will post 2.04 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its position in Commercial Metals by 0.3% during the 4th quarter. Northern Trust Corp now owns 2,842,935 shares of the basic materials company’s stock worth $45,543,000 after purchasing an additional 8,995 shares in the last quarter. Hsbc Holdings PLC increased its position in Commercial Metals by 34.4% during the 4th quarter. Hsbc Holdings PLC now owns 23,423 shares of the basic materials company’s stock worth $376,000 after purchasing an additional 5,998 shares in the last quarter. United Services Automobile Association increased its position in Commercial Metals by 8.0% during the 4th quarter. United Services Automobile Association now owns 217,053 shares of the basic materials company’s stock worth $3,477,000 after purchasing an additional 16,067 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Commercial Metals by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,779,350 shares of the basic materials company’s stock worth $156,666,000 after purchasing an additional 70,560 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Commercial Metals by 2.1% in the 4th quarter. California State Teachers Retirement System now owns 190,964 shares of the basic materials company’s stock valued at $3,059,000 after acquiring an additional 3,988 shares during the period. Hedge funds and other institutional investors own 90.56% of the company’s stock.

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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