Commercial Metals (CMC) Downgraded by ValuEngine

ValuEngine lowered shares of Commercial Metals (NYSE:CMC) from a sell rating to a strong sell rating in a research note released on Wednesday.

Other analysts also recently issued research reports about the company. Seaport Global Securities began coverage on Commercial Metals in a report on Thursday, October 11th. They set a neutral rating and a $20.00 price objective on the stock. Macquarie set a $23.00 price objective on Commercial Metals and gave the stock a hold rating in a report on Friday, October 26th. Deutsche Bank downgraded Commercial Metals to a buy rating in a report on Tuesday, October 2nd. Citigroup boosted their price objective on Commercial Metals from $19.00 to $22.00 and gave the stock a hold rating in a report on Tuesday, November 6th. Finally, Cowen began coverage on Commercial Metals in a report on Tuesday. They set a market perform rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $21.44.

Commercial Metals stock traded down $0.26 during midday trading on Wednesday, hitting $15.81. The company’s stock had a trading volume of 1,991,937 shares, compared to its average volume of 2,142,342. 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 has a 12 month low of $15.23 and a 12 month high of $26.72. The stock has a market cap of $1.90 billion, a PE ratio of 10.61 and a beta of 1.32.



Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 7th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. Commercial Metals had a return on equity of 12.32% and a net margin of 2.51%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. On average, equities analysts predict that Commercial Metals will post 2.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.04%. Commercial Metals’s dividend payout ratio is 32.21%.

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased 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 valued at $182,000 after purchasing an additional 3,822 shares during the period. 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 increased 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 purchasing an additional 2,700 shares during the period. Institutional investors own 87.00% of the company’s stock.

Commercial Metals Company Profile

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.

Featured Story: What is a stock split?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply