Commercial Metals Company (NYSE:CMC) Receives $58.81 Consensus Price Target from Brokerages

Commercial Metals Company (NYSE:CMC) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.3889.

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. UBS Group increased their price target on Commercial Metals from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 13th. Morgan Stanley set a $57.50 price target on Commercial Metals in a research report on Wednesday, June 25th. Wells Fargo & Company increased their price objective on Commercial Metals from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMC. Captrust Financial Advisors increased its holdings in Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after acquiring an additional 202 shares during the last quarter. Isthmus Partners LLC increased its holdings in Commercial Metals by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company’s stock valued at $340,000 after acquiring an additional 226 shares during the last quarter. Choreo LLC increased its holdings in shares of Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company’s stock worth $509,000 after buying an additional 228 shares during the last quarter. Paulson Wealth Management Inc. increased its holdings in shares of Commercial Metals by 5.2% in the 2nd quarter. Paulson Wealth Management Inc. now owns 4,674 shares of the basic materials company’s stock worth $229,000 after buying an additional 229 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after buying an additional 244 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Down 2.5%

CMC stock opened at $58.21 on Friday. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The firm has a market cap of $6.52 billion, a P/E ratio of 187.76, a P/E/G ratio of 2.09 and a beta of 1.33. The business’s 50 day moving average is $55.54 and its 200-day moving average is $49.80. 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 (NYSE:CMC) last released its quarterly earnings results 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 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 firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.02 earnings per share. Equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

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.