Commercial Metals (NYSE:CMC) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Commercial Metals (NYSE:CMC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $61.40.

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Commercial Metals from a "buy" rating to a "hold" rating in a research report on Thursday, June 20th. Bank of America lowered their price objective on shares of Commercial Metals from $70.00 to $69.00 and set a "buy" rating on the stock in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on Commercial Metals in a research report on Tuesday. They issued a "buy" rating and a $65.00 target price for the company.

Commercial Metals Stock Performance

Shares of CMC traded down $2.66 during midday trading on Tuesday, hitting $50.93. 1,024,141 shares of the stock traded hands, compared to its average volume of 863,936. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $61.26. The business's 50 day moving average price is $54.89 and its two-hundred day moving average price is $55.02. The firm has a market capitalization of $5.86 billion, a PE ratio of 11.16 and a beta of 1.17.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.02 billion. Commercial Metals had a return on equity of 14.62% and a net margin of 6.95%. The business's revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 earnings per share. Equities research analysts predict that Commercial Metals will post 4.53 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, July 1st. Commercial Metals's dividend payout ratio (DPR) is presently 15.00%.

Institutional Investors Weigh In On Commercial Metals

A number of large investors have recently made changes to their positions in the company. Amalgamated Bank lifted its position in Commercial Metals by 1.2% in the 4th quarter. Amalgamated Bank now owns 69,130 shares of the basic materials company's stock worth $3,459,000 after buying an additional 825 shares in the last quarter. Avidian Wealth Solutions LLC acquired a new stake in shares of Commercial Metals during the 4th quarter valued at about $522,000. Charles Schwab Investment Management Inc. increased its holdings in Commercial Metals by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,416,800 shares of the basic materials company's stock worth $70,897,000 after buying an additional 31,365 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in Commercial Metals by 6,246.5% during the fourth quarter. Arcadia Investment Management Corp MI now owns 12,693 shares of the basic materials company's stock valued at $635,000 after acquiring an additional 12,493 shares in the last quarter. Finally, Versor Investments LP raised its position in Commercial Metals by 56.2% during the fourth quarter. Versor Investments LP now owns 15,936 shares of the basic materials company's stock valued at $797,000 after acquiring an additional 5,736 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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.