Commercial Metals Company (NYSE:CMC) Receives $74.80 Average PT from Brokerages

Commercial Metals Company (NYSE:CMC) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $77.30.

Several equities research analysts recently weighed in on CMC shares. The Goldman Sachs Group started coverage on Commercial Metals in a report on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price target for the company. Zacks Research downgraded Commercial Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Barclays started coverage on Commercial Metals in a report on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th.

Commercial Metals Price Performance

CMC stock opened at $76.64 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. The business has a 50 day simple moving average of $66.68 and a 200-day simple moving average of $69.27. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $84.87. The company has a market capitalization of $8.50 billion, a P/E ratio of 17.07, a PEG ratio of 0.43 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the business earned $0.26 earnings per share. Commercial Metals’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities analysts anticipate that Commercial Metals will post 6.45 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, April 6th. Commercial Metals’s dividend payout ratio is 16.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMC. Royal Bank of Canada raised its position in Commercial Metals by 1.4% in the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after acquiring an additional 1,219 shares in the last quarter. Amundi raised its position in Commercial Metals by 13.3% in the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares in the last quarter. Jones Financial Companies Lllp raised its position in Commercial Metals by 614.9% in the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Commercial Metals by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after acquiring an additional 56,875 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock worth $2,453,000 after acquiring an additional 941 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.