Commercial Metals (NYSE:CMC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Commercial Metals (NYSE:CMC) have been given an average rating of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $62.33.

CMC has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. Jefferies Financial Group cut their target price 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. Morgan Stanley lowered their price target on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd.

Commercial Metals Stock Up 0.7 %

CMC stock opened at $47.95 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market capitalization of $5.45 billion, a P/E ratio of 43.20, a P/E/G ratio of 2.49 and a beta of 1.18. Commercial Metals has a 52-week low of $45.50 and a 52-week high of $64.53. The company’s 50 day simple moving average is $52.91 and its 200-day simple moving average is $54.25.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s payout ratio is 64.86%.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMC. Bank of New York Mellon Corp raised its position in shares of Commercial Metals by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,163,920 shares of the basic materials company’s stock valued at $57,730,000 after purchasing an additional 73,368 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Commercial Metals in the 4th quarter worth $1,152,000. Union Bancaire Privee UBP SA acquired a new position in Commercial Metals during the 4th quarter worth $134,000. New York State Common Retirement Fund boosted its holdings in Commercial Metals by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 175,216 shares of the basic materials company’s stock valued at $8,691,000 after acquiring an additional 4,397 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Commercial Metals in the fourth quarter valued at about $214,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.