Commercial Metals Company (NYSE:CMC) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $20.83.
Several research firms have recently issued reports on CMC. Credit Suisse Group AG reissued a “neutral” rating and set a $19.00 target price (up from $15.00) on shares of Commercial Metals Company in a research note on Friday, January 13th. Clarkson Capital cut Commercial Metals Company from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. Zacks Investment Research cut Commercial Metals Company from a “buy” rating to a “hold” rating in a research note on Tuesday, January 3rd. Jefferies Group LLC reduced their target price on Commercial Metals Company from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, January 10th. Finally, Deutsche Bank AG began coverage on Commercial Metals Company in a research note on Thursday, January 5th. They set a “buy” rating and a $27.00 target price on the stock.
In related news, VP Adam R. Hickey sold 2,085 shares of Commercial Metals Company stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $20.85, for a total transaction of $43,472.25. Following the sale, the vice president now directly owns 30,835 shares in the company, valued at $642,909.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC purchased a new stake in Commercial Metals Company during the fourth quarter valued at $105,000. LS Investment Advisors LLC raised its stake in Commercial Metals Company by 7.6% in the third quarter. LS Investment Advisors LLC now owns 7,379 shares of the company’s stock valued at $119,000 after buying an additional 520 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Commercial Metals Company during the fourth quarter valued at $168,000. Acrospire Investment Management LLC raised its stake in Commercial Metals Company by 130.2% in the third quarter. Acrospire Investment Management LLC now owns 12,730 shares of the company’s stock valued at $206,000 after buying an additional 7,200 shares in the last quarter. Finally, Matarin Capital Management LLC purchased a new stake in Commercial Metals Company during the third quarter valued at $212,000. Institutional investors own 88.74% of the company’s stock.
Shares of Commercial Metals Company (NYSE:CMC) traded down 3.122% on Monday, reaching $17.535. The company’s stock had a trading volume of 1,402,329 shares. The stock has a market cap of $2.03 billion, a P/E ratio of 36.994 and a beta of 1.38. The firm’s 50-day moving average price is $20.44 and its 200-day moving average price is $19.50. Commercial Metals Company has a 12 month low of $14.58 and a 12 month high of $24.64.
Commercial Metals Company (NYSE:CMC) last posted its earnings results on Thursday, March 23rd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.13. Commercial Metals Company had a return on equity of 6.77% and a net margin of 0.79%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Commercial Metals Company will post $0.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Wednesday, April 5th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, April 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.65%. Commercial Metals Company’s dividend payout ratio is presently 154.84%.
About Commercial Metals Company
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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