UBS Group Lowers Commercial Metals (NYSE:CMC) Price Target to $49.00

Commercial Metals (NYSE:CMC) had its price objective reduced by UBS Group from $54.00 to $49.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. BMO Capital Markets reduced their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Morgan Stanley lowered their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Stock Up 4.9 %

CMC stock opened at $48.89 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The firm has a fifty day moving average price of $48.87 and a two-hundred day moving average price of $52.74. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio is 120.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new stake in Commercial Metals during the fourth quarter worth about $33,000. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC grew its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 267 shares during the last quarter. South Plains Financial Inc. acquired a new stake in Commercial Metals during the 4th quarter valued at $73,000. Finally, Jones Financial Companies Lllp increased its holdings in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares in 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.