UBS Group Cuts Commercial Metals (NYSE:CMC) Price Target to $49.00

Commercial Metals (NYSE:CMC) had its price target decreased by UBS Group from $54.00 to $49.00 in a research report released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley cut their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. BMO Capital Markets lowered their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Performance

Commercial Metals stock opened at $48.83 on Monday. The firm’s 50 day simple moving average is $48.81 and its 200 day simple moving average is $52.71. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The firm has a market capitalization of $5.55 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.88 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.47%. Commercial Metals’s payout ratio is 120.00%.

Institutional Investors Weigh In On Commercial Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC increased its stake in Commercial Metals by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 17,010 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Commercial Metals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after buying an additional 18,262 shares during the period. Citigroup Inc. raised its holdings in Commercial Metals by 99.0% during the 3rd quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company’s stock valued at $6,788,000 after buying an additional 61,447 shares during the last quarter. Cerity Partners LLC boosted its position in Commercial Metals by 37.8% during the 3rd quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock valued at $2,143,000 after buying an additional 10,693 shares during the period. Finally, Qsemble Capital Management LP grew its holdings in Commercial Metals by 20.9% in the 3rd quarter. Qsemble Capital Management LP now owns 8,973 shares of the basic materials company’s stock worth $493,000 after acquiring an additional 1,549 shares during 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.