Commercial Metals (NYSE:CMC) has received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.60.
Several equities analysts recently commented on CMC shares. Goldman Sachs Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price for the company in a research note on Monday, August 13th. Deutsche Bank lowered shares of Commercial Metals to a “buy” rating in a report on Tuesday, October 2nd. Seaport Global Securities assumed coverage on shares of Commercial Metals in a report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 price target on the stock. ValuEngine lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Macquarie set a $23.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a report on Friday.
A number of institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in Commercial Metals by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 81,233 shares of the basic materials company’s stock valued at $1,715,000 after buying an additional 2,354 shares during the period. OppenheimerFunds Inc. increased its holdings in Commercial Metals by 4.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock valued at $1,583,000 after buying an additional 3,041 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of Commercial Metals by 3.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 100,336 shares of the basic materials company’s stock worth $2,118,000 after purchasing an additional 3,279 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Commercial Metals by 79.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 3,822 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Commercial Metals by 24.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,397 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 4,200 shares during the last quarter. 89.27% of the stock is currently owned by hedge funds and other institutional investors.
Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%. As a group, analysts forecast that Commercial Metals will post 2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, November 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.
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 five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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