Commercial Metals (NYSE:CMC) Receives $67.20 Consensus Price Target from Brokerages

Commercial Metals (NYSE:CMC - Get Free Report) has been given a consensus recommendation of "Hold" by the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $65.40.

CMC has been the subject of several research reports. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 price target on the stock. UBS Group reiterated a "sell" rating and issued a $56.00 price objective (down previously from $62.00) on shares of Commercial Metals in a report on Thursday. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group initiated coverage on Commercial Metals in a research note on Tuesday, September 3rd. They set a "buy" rating and a $65.00 price objective on the stock.

Institutional Trading of Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock worth $320,439,000 after acquiring an additional 24,665 shares during the period. Geode Capital Management LLC increased its stake in Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock valued at $156,093,000 after purchasing an additional 28,019 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Commercial Metals by 1.9% during the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company's stock worth $119,646,000 after purchasing an additional 41,206 shares during the last quarter. Principal Financial Group Inc. boosted its position in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Commercial Metals by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock valued at $80,369,000 after purchasing an additional 18,262 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Shares of CMC traded down $2.96 during trading hours on Thursday, hitting $58.64. The stock had a trading volume of 1,119,769 shares, compared to its average volume of 854,651. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.73 and a beta of 1.15. 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 firm has a 50-day moving average price of $57.71 and a 200 day moving average price of $55.18. Commercial Metals has a fifty-two week low of $45.87 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. As a group, research analysts anticipate that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. Commercial Metals's payout ratio is currently 17.39%.

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.