CMC has been the subject of several other reports. Citigroup downgraded Commercial Metals from a buy rating to a neutral rating and lowered their price target for the stock from $22.00 to $21.00 in a report on Monday, June 8th. Credit Suisse Group increased their price target on Commercial Metals from $24.00 to $25.00 and gave the stock an outperform rating in a report on Friday, June 19th. Cowen increased their price target on Commercial Metals from $17.00 to $20.00 and gave the stock a market perform rating in a report on Monday, June 22nd. BMO Capital Markets increased their price target on Commercial Metals from $15.00 to $22.00 and gave the stock a market perform rating in a report on Friday, June 19th. Finally, Deutsche Bank increased their price target on Commercial Metals from $20.00 to $24.00 in a report on Monday, June 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Commercial Metals has an average rating of Buy and a consensus price target of $20.44.
NYSE CMC opened at $22.18 on Tuesday. The stock has a 50-day simple moving average of $20.57 and a 200 day simple moving average of $18.24. The company has a market capitalization of $2.71 billion, a PE ratio of 8.91, a P/E/G ratio of 4.84 and a beta of 1.42. The company has a current ratio of 3.42, a quick ratio of 2.39 and a debt-to-equity ratio of 0.64. Commercial Metals has a 12 month low of $10.76 and a 12 month high of $24.04.
Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, June 18th. The basic materials company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.22. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.25 billion. Commercial Metals had a return on equity of 18.16% and a net margin of 5.31%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, sell-side analysts predict that Commercial Metals will post 2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.16%. Commercial Metals’s payout ratio is presently 23.08%.
In related news, COO Tracy L. Porter sold 52,045 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $20.14, for a total transaction of $1,048,186.30. Following the completion of the transaction, the chief operating officer now directly owns 10 shares in the company, valued at $201.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Optimum Investment Advisors acquired a new position in Commercial Metals during the second quarter valued at approximately $40,000. USA Financial Portformulas Corp acquired a new position in Commercial Metals during the first quarter valued at approximately $43,000. Ellevest Inc. boosted its position in Commercial Metals by 79.9% during the first quarter. Ellevest Inc. now owns 2,779 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,234 shares during the last quarter. Pearl River Capital LLC acquired a new position in Commercial Metals during the first quarter valued at approximately $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in Commercial Metals during the second quarter valued at approximately $88,000. 88.03% of the stock is owned by hedge funds and other institutional investors.
About Commercial Metals
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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