Brokerages Set Commercial Metals (NYSE:CMC) Target Price at $64.67

Shares of Commercial Metals (NYSE:CMC) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $63.83.

CMC has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Morgan Stanley initiated coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $47.02 on Monday. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.74 and a beta of 1.19. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The firm’s 50-day moving average is $56.61 and its 200 day moving average is $54.87. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS. Research analysts predict that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be given a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. Commercial Metals’s payout ratio is presently 17.39%.

Institutional Investors Weigh In On Commercial Metals

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in shares of Commercial Metals during the 3rd quarter worth approximately $66,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares in the last quarter. KBC Group NV raised its stake in shares of Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 425 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Commercial Metals during the 3rd quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Commercial Metals by 29.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 870 shares in the last quarter. Hedge funds and other 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.