Commercial Metals (CMC) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Commercial Metals (NYSE:CMC) from a sell rating to a hold rating in a report released on Thursday morning.

Other equities analysts also recently issued reports about the stock. Deutsche Bank downgraded shares of Commercial Metals to a buy rating in a research note on Tuesday, October 2nd. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a hold rating in a research note on Friday, October 26th. Citigroup cut their target price on shares of Commercial Metals from $24.00 to $19.00 and set a neutral rating for the company in a research note on Monday. Seaport Global Securities started coverage on shares of Commercial Metals in a research note on Thursday, October 11th. They issued a neutral rating and a $20.00 target price for the company. Finally, Goldman Sachs Group upgraded shares of Commercial Metals from a sell rating to a neutral rating and set a $24.00 target price for the company in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Commercial Metals has an average rating of Hold and a consensus price target of $23.75.

Shares of Commercial Metals stock traded up $0.78 during trading hours on Thursday, reaching $20.47. 220,178 shares of the company’s stock were exchanged, compared to its average volume of 1,590,912. Commercial Metals has a fifty-two week low of $17.26 and a fifty-two week high of $26.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 2.75. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 13.74 and a beta of 1.32.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, sell-side analysts expect that Commercial Metals will post 2.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $0.48 annualized dividend and a yield of 2.34%. Commercial Metals’s dividend payout ratio (DPR) is currently 32.21%.

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in Commercial Metals by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock valued at $1,715,000 after purchasing an additional 2,354 shares during the last quarter. OppenheimerFunds Inc. lifted its position in Commercial Metals by 4.2% during the second quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock worth $1,583,000 after acquiring an additional 3,041 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Commercial Metals by 3.4% during the second quarter. Mutual of America Capital Management LLC now owns 100,336 shares of the basic materials company’s stock worth $2,118,000 after acquiring an additional 3,279 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Commercial Metals by 79.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 3,822 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in Commercial Metals by 24.4% during the second quarter. Xact Kapitalforvaltning AB now owns 21,397 shares of the basic materials company’s stock worth $452,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

Read More: What is insider trading?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply