Analysts Set Commercial Metals (NYSE:CMC) Price Target at $62.33

Commercial Metals (NYSE:CMC - Get Free Report) has received an average rating of "Hold" from the eight analysts that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $62.33.

Several equities research analysts have issued reports on CMC shares. UBS Group raised Commercial Metals from a "sell" rating to a "neutral" rating and cut their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective on the stock. BMO Capital Markets lowered their target price on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Friday, January 3rd. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on shares of Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd.

Institutional Trading of Commercial Metals

Institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new stake in shares of Commercial Metals in the 4th quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at $34,000. V Square Quantitative Management LLC grew its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares during the last quarter. South Plains Financial Inc. acquired a new position in Commercial Metals in the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 1.3 %

Shares of CMC traded down $0.63 during midday trading on Tuesday, reaching $48.40. The company had a trading volume of 1,753,766 shares, compared to its average volume of 1,103,664. The firm has a 50 day simple moving average of $49.93 and a 200-day simple moving average of $53.56. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.50 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. Commercial Metals has a 1-year low of $45.50 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 EPS. Research 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 Thursday, January 30th. Investors of record on Thursday, January 16th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.49%. Commercial Metals's payout ratio is 64.86%.

About Commercial Metals

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.