Commercial Metals Co. (CMC) Trading Down 2.8%
Shares of Commercial Metals Co. (NYSE:CMC) were down 2.8% during trading on Tuesday . The stock traded as low as $15.70 and last traded at $15.70, with a volume of 719,417 shares. The stock had previously closed at $16.15.
Several analysts recently commented on CMC shares. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, May 30th. Bank of America Corp. downgraded Commercial Metals from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research note on Thursday, June 2nd. Jefferies Group reissued a “buy” rating on shares of Commercial Metals in a research note on Saturday, June 4th. Clarkson Capital downgraded Commercial Metals from a “neutral” rating to a “sell” rating in a research note on Monday, June 27th. Finally, Citigroup Inc. assumed coverage on Commercial Metals in a research note on Monday, August 22nd. They issued a “neutral” rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Commercial Metals has an average rating of “Hold” and an average target price of $16.69.
The company has a market cap of $1.77 billion and a price-to-earnings ratio of 14.02. The stock’s 50 day moving average price is $16.47 and its 200-day moving average price is $16.66.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 23rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The business earned $1.23 billion during the quarter. During the same quarter last year, the company posted $0.58 earnings per share. The firm’s revenue was down 18.5% compared to the same quarter last year. On average, analysts expect that Commercial Metals Co. will post $0.97 EPS for the current year.
In other Commercial Metals news, Director Anthony A. Massaro sold 2,367 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $16.36, for a total transaction of $38,724.12. Following the sale, the director now owns 69,252 shares of the company’s stock, valued at $1,132,962.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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