Commercial Metals (CMC) PT Lowered to $19.00

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Commercial Metals (NYSE:CMC) had its price objective cut by Citigroup from $24.00 to $19.00 in a report published on Monday. They currently have a neutral rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on CMC. ValuEngine downgraded shares of Commercial Metals from a hold rating to a sell rating in a research note on Friday, October 12th. Goldman Sachs Group raised shares of Commercial Metals from a sell rating to a neutral rating and set a $24.00 target price for the company in a research note on Monday, August 13th. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a hold rating in a research note on Friday. Deutsche Bank downgraded shares of Commercial Metals to a buy rating in a research note on Tuesday, October 2nd. Finally, Seaport Global Securities initiated coverage on shares of Commercial Metals in a research note on Thursday, October 11th. They issued a neutral rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $23.78.

Shares of CMC traded up $0.29 on Monday, reaching $18.13. 300,628 shares of the company’s stock were exchanged, compared to its average volume of 1,560,854. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.83 and a quick ratio of 2.75. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 12.17 and a beta of 1.32. Commercial Metals has a 12 month low of $17.26 and a 12 month high of $26.72.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. As a group, analysts expect that Commercial Metals will post 2.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.65%. The ex-dividend date is Tuesday, November 6th. Commercial Metals’s payout ratio is presently 32.21%.

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Commercial Metals by 3.5% in the first quarter. Principal Financial Group Inc. now owns 506,006 shares of the basic materials company’s stock valued at $10,353,000 after buying an additional 16,952 shares during the period. UBS Group AG boosted its holdings in shares of Commercial Metals by 84.7% in the first quarter. UBS Group AG now owns 76,520 shares of the basic materials company’s stock valued at $1,566,000 after buying an additional 35,085 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in shares of Commercial Metals by 48.3% in the first quarter. Xact Kapitalforvaltning AB now owns 17,197 shares of the basic materials company’s stock valued at $352,000 after buying an additional 5,600 shares during the period. Alpha Windward LLC acquired a new position in shares of Commercial Metals in the second quarter valued at approximately $440,000. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Commercial Metals by 1.5% in the second quarter. Deprince Race & Zollo Inc. now owns 1,850,232 shares of the basic materials company’s stock valued at $39,058,000 after buying an additional 28,100 shares during the period. 89.28% of the stock is owned by hedge funds and other 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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