Commercial Metals (NYSE:CMC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Commercial Metals (NYSE:CMC) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $65.25.

Several research analysts have recently weighed in on the stock. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group started coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price target on the stock.

Commercial Metals Stock Performance

Shares of CMC opened at $61.22 on Friday. Commercial Metals has a 12 month low of $43.52 and a 12 month high of $63.40. The business’s fifty day simple moving average is $55.52 and its two-hundred day simple moving average is $54.73. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.60 and a beta of 1.14.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Research analysts anticipate that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.18 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.72 annualized dividend and a yield of 1.18%. Commercial Metals’s payout ratio is presently 17.39%.

Institutional Investors Weigh In On Commercial Metals

A number of hedge funds have recently modified their holdings of CMC. Russell Investments Group Ltd. lifted its position in Commercial Metals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after purchasing an additional 20,751 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Commercial Metals by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 26,745 shares of the basic materials company’s stock valued at $1,572,000 after acquiring an additional 1,189 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Commercial Metals by 22.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 40,864 shares of the basic materials company’s stock worth $2,402,000 after acquiring an additional 7,405 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Commercial Metals by 13.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,905 shares of the basic materials company’s stock worth $758,000 after acquiring an additional 1,545 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Commercial Metals by 2.1% during the first quarter. Clearbridge Investments LLC now owns 225,447 shares of the basic materials company’s stock valued at $13,250,000 after purchasing an additional 4,728 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.