BMO Capital Markets Issues Pessimistic Forecast for Commercial Metals (NYSE:CMC) Stock Price

Commercial Metals (NYSE:CMC - Get Free Report) had its price objective decreased by investment analysts at BMO Capital Markets from $58.00 to $54.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "market perform" rating on the basic materials company's stock. BMO Capital Markets' target price would suggest a potential upside of 11.16% from the stock's previous close.

Several other research analysts have also recently weighed in on CMC. Jefferies Financial Group lowered their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target on the stock. UBS Group upgraded shares of Commercial Metals from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Finally, Morgan Stanley dropped their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of "Hold" and a consensus target price of $60.33.

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Commercial Metals Stock Performance

CMC traded down $0.17 on Friday, reaching $48.58. The company had a trading volume of 1,207,848 shares, compared to its average volume of 865,685. The stock has a market cap of $5.52 billion, a P/E ratio of 43.77, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The company's fifty day moving average is $48.86 and its 200 day moving average is $52.73.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Commercial Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth $33,000. Heck Capital Advisors LLC bought a new position in Commercial Metals in the fourth quarter valued at about $34,000. V Square Quantitative Management LLC raised its stake in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares in the last quarter. South Plains Financial Inc. bought a new position in shares of Commercial Metals in the fourth quarter worth about $73,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.