Commercial Metals Company (NYSE:CMC) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Commercial Metals Company (NYSE:CMC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, August 1st.
A number of other equities research analysts have also commented on the company. Jefferies Group LLC reiterated a hold rating and issued a $19.00 price target on shares of Commercial Metals in a research report on Wednesday, June 28th. Bank of America Corporation reiterated a neutral rating and issued a $20.00 price target (up previously from $19.00) on shares of Commercial Metals in a research report on Sunday, June 25th. Zacks Investment Research lowered Commercial Metals from a hold rating to a sell rating in a research report on Tuesday, June 20th. Finally, Citigroup Inc. upgraded Commercial Metals from a neutral rating to a buy rating and upped their target price for the company from $21.00 to $22.00 in a research report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $22.00.
Shares of Commercial Metals (NYSE CMC) traded down 1.39% during trading on Tuesday, reaching $18.39. The company’s stock had a trading volume of 978,667 shares. Commercial Metals has a 12 month low of $14.58 and a 12 month high of $24.64. The company’s 50 day moving average price is $19.33 and its 200 day moving average price is $19.33. The firm has a market cap of $2.13 billion, a PE ratio of 28.42 and a beta of 1.22.
Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Commercial Metals had a return on equity of 7.84% and a net margin of 1.57%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Commercial Metals will post $0.93 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, July 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.61%. Commercial Metals’s payout ratio is 73.85%.
Several large investors have recently made changes to their positions in CMC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock valued at $102,000 after buying an additional 2,142 shares during the last quarter. Elkfork Partners LLC raised its position in shares of Commercial Metals by 13.6% in the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock valued at $105,000 after buying an additional 660 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its position in shares of Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after buying an additional 5,182 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Commercial Metals by 13.6% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock valued at $134,000 after buying an additional 840 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in shares of Commercial Metals by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock valued at $134,000 after buying an additional 2,492 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.
About Commercial Metals
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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