Brokerages Set Commercial Metals Company (NYSE:CMC) PT at $58.81

Key Points

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Commercial Metals Company (NYSE:CMC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $58.8125.

Several analysts have weighed in on CMC shares. JPMorgan Chase & Co. boosted their price objective on Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company raised Commercial Metals to a "strong-buy" rating in a report on Thursday, August 14th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price target on Commercial Metals in a research note on Wednesday, June 25th.

Commercial Metals Price Performance

NYSE CMC traded up $2.6420 on Tuesday, hitting $58.9520. 1,097,630 shares of the company were exchanged, compared to its average volume of 866,948. The firm has a 50 day moving average of $52.44 and a two-hundred day moving average of $48.67. The company has a market cap of $6.60 billion, a P/E ratio of 190.17, a P/E/G ratio of 2.72 and a beta of 1.28. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 earnings per share. On average, equities analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals's dividend payout ratio is 232.26%.

Institutional Trading of Commercial Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Commercial Metals by 12.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after acquiring an additional 2,846 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Commercial Metals by 25.6% in the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock valued at $151,000 after acquiring an additional 669 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after acquiring an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Commercial Metals by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after acquiring an additional 325 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Commercial Metals by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 385,527 shares of the basic materials company's stock valued at $17,738,000 after acquiring an additional 22,682 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

About Commercial Metals

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.