Commercial Metals (NYSE:CMC) Price Target Lowered to $53.00 at Morgan Stanley

Commercial Metals (NYSE:CMC) had its target price cut by Morgan Stanley from $56.00 to $53.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets lowered their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.83.

Commercial Metals Trading Down 1.3 %

Shares of Commercial Metals stock opened at $45.85 on Friday. The company’s fifty day moving average price is $49.58 and its two-hundred day moving average price is $53.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 52-week low of $43.81 and a 52-week high of $64.53. The firm has a market capitalization of $5.21 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.57%. Commercial Metals’s payout ratio is presently 64.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new position in Commercial Metals during the 4th quarter valued at about $33,000. Heck Capital Advisors LLC acquired a new position in Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC lifted its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. acquired a new position in Commercial Metals during the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp lifted its position in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.