Commercial Metals (NYSE:CMC) Receives $58.00 Average Target Price from Brokerages

Shares of Commercial Metals (NYSE:CMC) have received an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $58.00.

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. BMO Capital Markets decreased their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Wolfe Research raised Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Tuesday, May 27th. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. began coverage on Commercial Metals in a research note on Friday, May 30th. They set a “neutral” rating and a $52.00 target price for the company.

Insider Transactions at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now owns 15,141 shares of the company’s stock, valued at $611,999.22. The trade was a 19.54% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Commercial Metals

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI lifted its holdings in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 244 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Commercial Metals in the 4th quarter valued at about $33,000. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC stock opened at $48.60 on Thursday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a market cap of $5.49 billion, a P/E ratio of 43.79, a P/E/G ratio of 2.62 and a beta of 1.27. The business has a fifty day simple moving average of $45.55 and a 200 day simple moving average of $49.02.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. Commercial Metals’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

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.