Commercial Metals (NYSE:CMC) Given Average Rating of "Hold" by Brokerages

Shares of Commercial Metals (NYSE:CMC - Get Free Report) have been given an average recommendation of "Hold" by the eight brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.33.

A number of equities research analysts have recently commented on CMC shares. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of 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. Jefferies Financial Group cut their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. UBS Group decreased their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, BMO Capital Markets reduced their price objective on shares of 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.

Commercial Metals Stock Performance

Shares of NYSE:CMC traded up $0.62 during trading on Wednesday, hitting $42.32. 888,354 shares of the stock traded hands, compared to its average volume of 952,532. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a fifty day moving average price of $46.23 and a two-hundred day moving average price of $51.47. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. 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 (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business's quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Insiders Place Their Bets

In related news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Commercial Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals in the fourth quarter worth about $33,000. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the fourth quarter worth 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 valued at $35,000 after buying an additional 267 shares in the last quarter. UMB Bank n.a. raised its position in shares of Commercial Metals by 51.9% during 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 in the last quarter. Finally, South Plains Financial Inc. bought a new position in Commercial Metals during the fourth quarter worth $73,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.