Citigroup set a $18.00 price objective on Commercial Metals (NYSE:CMC) in a research note released on Tuesday morning. The firm currently has a hold rating on the basic materials company’s stock.
Several other research analysts also recently weighed in on CMC. Zacks Investment Research upgraded Commercial Metals from a hold rating to a strong-buy rating and set a $18.00 target price on the stock in a research note on Wednesday, January 2nd. Longbow Research set a $25.00 target price on Commercial Metals and gave the stock a buy rating in a research note on Monday, December 3rd. ValuEngine upgraded Commercial Metals from a sell rating to a hold rating in a research note on Thursday, November 1st. Macquarie set a $23.00 target price on Commercial Metals and gave the stock a hold rating in a research note on Friday, October 26th. Finally, Seaport Global Securities began coverage on Commercial Metals in a research note on Thursday, October 11th. They set a neutral rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $21.44.
Shares of NYSE:CMC traded down $0.26 on Tuesday, reaching $15.81. The company had a trading volume of 1,991,937 shares, compared to its average volume of 2,142,342. Commercial Metals has a 52-week low of $15.23 and a 52-week high of $26.72. The company has a market capitalization of $1.90 billion, a PE ratio of 10.61 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 2.75 and a debt-to-equity ratio of 0.88.
Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Monday, January 7th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. Commercial Metals had a return on equity of 12.32% and a net margin of 2.51%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up 18.7% compared to the same quarter last year. Research analysts predict that Commercial Metals will post 2.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.48 annualized dividend and a yield of 3.04%. Commercial Metals’s payout ratio is presently 32.21%.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Commercial Metals by 79.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 3,822 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Commercial Metals in the 3rd quarter valued at about $207,000. Global Financial Private Capital LLC acquired a new position in shares of Commercial Metals in the 3rd quarter valued at about $244,000. First Republic Investment Management Inc. acquired a new position in shares of Commercial Metals in the 3rd quarter valued at about $251,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of Commercial Metals by 27.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 12,403 shares of the basic materials company’s stock valued at $255,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.
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