Commercial Metals Company (NYSE:CMC) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

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Shares of Commercial Metals Company (NYSE:CMC - Get Free Report) have been given an average rating of "Moderate Buy" by the nine analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $58.8125.

A number of equities analysts have commented on CMC shares. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research note on Wednesday, June 25th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. BMO Capital Markets restated a "market perform" rating and set a $55.00 target price (down previously from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. UBS Group restated a "neutral" rating and set a $56.00 target price (up previously from $48.00) on shares of Commercial Metals in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. boosted their target price on Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th.

Commercial Metals Price Performance

Commercial Metals stock opened at $56.86 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The firm has a market cap of $6.36 billion, a P/E ratio of 183.42, a P/E/G ratio of 2.60 and a beta of 1.28. The business's fifty day moving average is $51.78 and its two-hundred day moving average is $48.41. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. Commercial Metals'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 EPS. Equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

Institutional Investors Weigh In On Commercial Metals

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its holdings in shares of Commercial Metals by 100.3% in the second quarter. Geneos Wealth Management Inc. now owns 6,751 shares of the basic materials company's stock worth $330,000 after acquiring an additional 3,380 shares in the last quarter. Kestra Investment Management LLC increased its holdings in shares of Commercial Metals by 14.5% in the second quarter. Kestra Investment Management LLC now owns 7,276 shares of the basic materials company's stock worth $356,000 after acquiring an additional 924 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Commercial Metals by 140.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,876 shares of the basic materials company's stock worth $532,000 after acquiring an additional 6,352 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Commercial Metals by 4.4% in the second quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company's stock worth $235,000 after acquiring an additional 202 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Commercial Metals by 3.6% during the second quarter. Tidal Investments LLC now owns 34,996 shares of the basic materials company's stock worth $1,712,000 after buying an additional 1,204 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.

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