Jefferies Financial Group Comments on Commercial Metals’ FY2020 Earnings (NYSE:CMC)

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Commercial Metals (NYSE:CMC) – Jefferies Financial Group cut their FY2020 earnings per share estimates for Commercial Metals in a report issued on Wednesday, October 16th. Jefferies Financial Group analyst M. Englert now expects that the basic materials company will post earnings of $2.30 per share for the year, down from their prior forecast of $2.37.

A number of other brokerages also recently commented on CMC. ValuEngine upgraded Commercial Metals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet upgraded Commercial Metals from a “c+” rating to a “b” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. set a $22.00 price objective on Commercial Metals and gave the stock a “buy” rating in a research note on Monday, September 23rd. Deutsche Bank downgraded Commercial Metals from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Thursday, July 11th. They noted that the move was a valuation call. Finally, Goldman Sachs Group downgraded Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Sunday, September 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.21.

Shares of CMC opened at $18.74 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of 12.58, a PEG ratio of 2.44 and a beta of 1.76. The stock has a fifty day moving average price of $17.48 and a 200 day moving average price of $16.83. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.00 and a quick ratio of 1.86. Commercial Metals has a 12 month low of $13.27 and a 12 month high of $21.05.

Large investors have recently added to or reduced their stakes in the company. Zeke Capital Advisors LLC lifted its holdings in shares of Commercial Metals by 7.7% during the third quarter. Zeke Capital Advisors LLC now owns 63,615 shares of the basic materials company’s stock valued at $1,106,000 after purchasing an additional 4,543 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Commercial Metals by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 140,895 shares of the basic materials company’s stock worth $2,449,000 after acquiring an additional 3,580 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Commercial Metals by 22.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 12,870 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 2,388 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in Commercial Metals in the 3rd quarter worth about $1,102,000. Finally, Pacer Advisors Inc. purchased a new stake in Commercial Metals in the 3rd quarter worth about $737,000. 94.86% of the stock is owned by institutional investors.

Commercial Metals Company Profile

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 four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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