Commercial Metals Co. (CMC) Stock Price Down 2.8%
Commercial Metals Co. (NYSE:CMC)’s share price dropped 2.8% during trading on Tuesday . The company traded as low as $15.70 and last traded at $15.70, with a volume of 719,417 shares traded. The stock had previously closed at $16.15.
CMC has been the subject of a number of research analyst reports. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Monday, May 30th. Bank of America Corp. cut Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price target for the company. in a report on Thursday, June 2nd. Jefferies Group reissued a “buy” rating on shares of Commercial Metals in a report on Saturday, June 4th. Clarkson Capital cut Commercial Metals from a “neutral” rating to a “sell” rating in a report on Monday, June 27th. Finally, Citigroup Inc. initiated coverage on Commercial Metals in a report on Monday, August 22nd. They set a “neutral” rating and a $16.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.69.
The stock has a 50-day moving average price of $16.58 and a 200 day moving average price of $16.66. The stock has a market capitalization of $1.77 billion and a price-to-earnings ratio of 14.02.
Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 23rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. During the same period last year, the business posted $0.58 earnings per share. The firm had revenue of $1.23 billion for the quarter. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. Equities analysts forecast that Commercial Metals Co. will post $0.98 earnings per share for the current year.
In other Commercial Metals news, Director Anthony A. Massaro sold 2,367 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $16.36, for a total transaction of $38,724.12. Following the completion of the transaction, the director now directly owns 69,252 shares of the company’s stock, valued at $1,132,962.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Commercial Metals Company (CMC) manufactures, recycles and markets steel and metal products, related materials and services. CMC has a network of steel mills (minimills), steel fabrication and processing facilities, warehouses, metal recycling facilities. It has five business segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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