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.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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