Analysts Set Commercial Metals (NYSE:CMC) Price Target at $67.20

Commercial Metals (NYSE:CMC) has received an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $65.40.

Several analysts have issued reports on the company. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. UBS Group restated a “sell” rating and set a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research note on Thursday. Finally, Jefferies Financial Group started coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company.

Commercial Metals Price Performance

CMC opened at $57.21 on Thursday. Commercial Metals has a fifty-two week low of $47.27 and a fifty-two week high of $64.53. The firm has a 50-day moving average of $57.90 and a 200 day moving average of $55.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The firm has a market cap of $6.52 billion, a P/E ratio of 13.82, a PEG ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, research analysts expect that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.26%. Commercial Metals’s dividend payout ratio is 17.39%.

Institutional Trading of Commercial Metals

Several hedge funds have recently added to or reduced their stakes in CMC. Seizert Capital Partners LLC grew its holdings in shares of Commercial Metals by 32.5% in the third quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after purchasing an additional 18,600 shares during the last quarter. Vestcor Inc boosted its position in Commercial Metals by 108.0% during the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock valued at $995,000 after buying an additional 9,400 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after acquiring an additional 18,262 shares during the last quarter. Intech Investment Management LLC raised its position in Commercial Metals by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock valued at $2,000,000 after purchasing an additional 17,010 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Commercial Metals by 19.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock worth $16,618,000 after buying an additional 48,453 shares during the period. 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.