Analysts Set Commercial Metals (NYSE:CMC) Price Target at $61.17

Shares of Commercial Metals (NYSE:CMC) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $60.33.

Several research analysts recently issued reports on CMC shares. UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets reduced their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st.

Institutional Investors Weigh In On Commercial Metals

A number of large investors have recently bought and sold shares of CMC. Ashton Thomas Private Wealth LLC grew its stake in Commercial Metals by 5.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 229 shares during the period. Mariner LLC lifted its holdings in shares of Commercial Metals by 0.9% in the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock worth $1,227,000 after purchasing an additional 232 shares in the last quarter. Truist Financial Corp grew its position in Commercial Metals by 3.5% in the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after buying an additional 254 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock worth $1,655,000 after buying an additional 262 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of CMC stock opened at $48.83 on Friday. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $48.81 and its 200-day moving average price is $52.71. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. Commercial Metals’s payout ratio is presently 120.00%.

Commercial Metals Company Profile

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.