Commercial Metals (NYSE:CMC) – Stock analysts at Jefferies Group boosted their FY2018 earnings per share estimates for shares of Commercial Metals in a report issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $1.82 per share for the year, up from their previous estimate of $1.53. Jefferies Group currently has a “Buy” rating and a $24.00 target price on the stock.
Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.13). Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Commercial Metals from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a report on Tuesday, October 17th. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $21.00 to $24.00 in a research note on Thursday, December 7th. Four research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Commercial Metals presently has an average rating of “Hold” and a consensus price target of $21.88.
Commercial Metals (CMC) traded up $0.25 on Thursday, hitting $24.84. The stock had a trading volume of 1,518,800 shares, compared to its average volume of 3,016,045. The company has a market capitalization of $2,900.00, a PE ratio of 46.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.07 and a current ratio of 3.20. Commercial Metals has a 52 week low of $17.05 and a 52 week high of $25.90.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new position in Commercial Metals in the second quarter worth approximately $29,018,000. Deprince Race & Zollo Inc. grew its position in Commercial Metals by 58.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after purchasing an additional 1,117,876 shares in the last quarter. Teachers Advisors LLC grew its position in Commercial Metals by 322.3% during the 2nd quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock worth $20,277,000 after purchasing an additional 796,477 shares in the last quarter. Russell Investments Group Ltd. grew its position in Commercial Metals by 4,203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock worth $11,218,000 after purchasing an additional 575,835 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Commercial Metals by 13.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after purchasing an additional 526,185 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.93%. Commercial Metals’s dividend payout ratio is presently 88.89%.
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Commercial Metals Company Profile
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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