Brokerages Set Commercial Metals (NYSE:CMC) Price Target at $67.20

Commercial Metals (NYSE:CMC) has been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $65.40.

CMC has been the topic of several analyst reports. BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group reiterated a “sell” rating and issued a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group began coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target on the stock.

Institutional Trading of Commercial Metals

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its position in Commercial Metals by 0.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,026,351 shares of the basic materials company’s stock valued at $55,433,000 after buying an additional 3,396 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Commercial Metals by 25.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,610 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 2,156 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Commercial Metals by 6.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company’s stock worth $325,000 after acquiring an additional 332 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Commercial Metals by 13.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 74,287 shares of the basic materials company’s stock valued at $4,082,000 after purchasing an additional 9,081 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in shares of Commercial Metals by 8.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,092 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 415 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Down 1.6 %

Shares of NYSE CMC opened at $56.28 on Thursday. Commercial Metals has a fifty-two week low of $47.42 and a fifty-two week high of $64.53. The firm has a market capitalization of $6.42 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The company’s 50 day simple moving average is $57.97 and its 200 day simple moving average is $55.23.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, analysts predict that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.