Commercial Metals (NYSE:CMC) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.14.
CMC has been the topic of several research analyst reports. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the company from $21.00 to $24.00 in a research report on Thursday, December 7th. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. ValuEngine raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating in a research note on Friday, March 9th.
Shares of Commercial Metals (NYSE CMC) traded up $0.32 during midday trading on Wednesday, hitting $24.63. 5,097,461 shares of the company traded hands, compared to its average volume of 1,691,033. Commercial Metals has a one year low of $17.05 and a one year high of $26.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.20 and a quick ratio of 2.07. The stock has a market capitalization of $2,835.32, a PE ratio of 25.32, a P/E/G ratio of 0.40 and a beta of 1.21.
Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. Commercial Metals’s quarterly revenue was up 24.6% on a year-over-year basis. equities analysts anticipate that Commercial Metals will post 1.45 EPS for the current year.
In related news, CAO Adam R. Hickey sold 20,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $25.50, for a total transaction of $510,000.00. Following the sale, the chief accounting officer now owns 15,632 shares of the company’s stock, valued at $398,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy L. Porter sold 13,601 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $25.04, for a total transaction of $340,569.04. Following the sale, the executive vice president now directly owns 10 shares in the company, valued at approximately $250.40. The disclosure for this sale can be found here. Insiders have sold 60,536 shares of company stock worth $1,541,915 in the last three months. 1.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $247,000. MetLife Investment Advisors LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $2,704,000. Millennium Management LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $34,374,000. Meadow Creek Investment Management LLC lifted its stake in shares of Commercial Metals by 24.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 15,400 shares of the basic materials company’s stock worth $328,000 after buying an additional 2,996 shares in the last quarter. Finally, Ellington Management Group LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $407,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.
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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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