Commercial Metals (NYSE:CMC) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Commercial Metals (NYSE:CMC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $65.25.

A number of research analysts have recently weighed in on CMC shares. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a "market perform" rating in a report on Friday, October 18th. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a "buy" rating and a $65.00 target price for the company.

Commercial Metals Trading Down 0.1 %

Shares of NYSE:CMC traded down $0.08 during mid-day trading on Friday, hitting $59.35. The stock had a trading volume of 771,755 shares, compared to its average volume of 973,856. Commercial Metals has a 12-month low of $43.52 and a 12-month high of $63.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The company has a market cap of $6.76 billion, a PE ratio of 14.34, a P/E/G ratio of 2.55 and a beta of 1.14. The company's 50 day moving average is $54.47 and its 200-day moving average is $54.58.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.07 billion. On average, sell-side analysts predict that Commercial Metals will post 4.35 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals's dividend payout ratio (DPR) is currently 17.39%.

Institutional Trading of Commercial Metals

A number of hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Commercial Metals during the third quarter valued at approximately $66,000. Archer Investment Corp acquired a new position in shares of Commercial Metals in the 2nd quarter valued at $77,000. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company's stock worth $86,000 after acquiring an additional 282 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Commercial Metals in the second quarter worth about $129,000. Finally, KBC Group NV lifted its stake in Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock worth $170,000 after purchasing an additional 425 shares during the period. 86.90% of the stock is owned by institutional investors.

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.