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

Shares of Commercial Metals (NYSE:CMC - Get Free Report) have earned an average recommendation of "Hold" from the eight analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $60.33.

Several brokerages have commented on CMC. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Morgan Stanley reduced their price objective 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. BMO Capital Markets lowered their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target on the stock.

Commercial Metals Stock Performance

CMC stock traded down $0.17 during mid-day trading on Friday, hitting $48.58. 1,175,897 shares of the company were exchanged, compared to its average volume of 865,864. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.52 billion, a PE ratio of 43.77, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $52.74. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53.

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Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business 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%. The firm's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Institutional Inflows and Outflows

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