Goldman Sachs Group upgraded shares of Commercial Metals (NYSE:CMC) from a sell rating to a neutral rating in a report released on Monday, Marketbeat.com reports. They currently have $24.00 target price on the basic materials company’s stock.

Several other brokerages have also recently issued reports on CMC. Macquarie raised Commercial Metals from an underperform rating to a neutral rating and set a $24.00 price objective for the company in a report on Thursday, May 17th. ValuEngine cut Commercial Metals from a buy rating to a hold rating in a report on Wednesday, June 13th. Citigroup raised their price target on Commercial Metals from $22.00 to $24.00 and gave the stock a hold rating in a research report on Tuesday, June 12th. Zacks Investment Research downgraded Commercial Metals from a hold rating to a sell rating in a research report on Tuesday, June 19th. Finally, Bank of America downgraded Commercial Metals from a neutral rating to an underperform rating and set a $24.00 price target for the company. in a research report on Tuesday, June 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $25.00.

CMC stock traded down $0.02 during midday trading on Monday, hitting $21.13. 5,906 shares of the stock were exchanged, compared to its average volume of 1,507,734. The stock has a market cap of $2.54 billion, a PE ratio of 33.89 and a beta of 1.39. Commercial Metals has a fifty-two week low of $17.05 and a fifty-two week high of $26.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.73 and a current ratio of 3.90.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 21st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.27 billion. Commercial Metals had a return on equity of 8.65% and a net margin of 1.21%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. equities research analysts predict that Commercial Metals will post 1.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 19th. Shareholders of record on Thursday, July 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, July 3rd. Commercial Metals’s payout ratio is 77.42%.

A number of institutional investors have recently added to or reduced their stakes in CMC. Lord Abbett & CO. LLC purchased a new position in Commercial Metals during the first quarter worth $37,462,000. FMR LLC grew its position in shares of Commercial Metals by 104.5% in the second quarter. FMR LLC now owns 3,269,044 shares of the basic materials company’s stock valued at $69,010,000 after purchasing an additional 1,670,640 shares during the period. Systematic Financial Management LP grew its position in shares of Commercial Metals by 251.0% in the first quarter. Systematic Financial Management LP now owns 2,054,114 shares of the basic materials company’s stock valued at $42,027,000 after purchasing an additional 1,468,866 shares during the period. Prudential Financial Inc. grew its position in shares of Commercial Metals by 1,841.0% in the first quarter. Prudential Financial Inc. now owns 1,530,114 shares of the basic materials company’s stock valued at $31,306,000 after purchasing an additional 1,451,282 shares during the period. Finally, Rothschild Asset Management Inc. purchased a new stake in shares of Commercial Metals in the first quarter valued at $17,400,000. 89.37% of the stock is owned by institutional investors.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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