Commercial Metals (NYSE:CMC) Downgraded to Hold at Deutsche Bank

Commercial Metals (NYSE:CMC) was downgraded by equities research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $18.00 target price on the basic materials company’s stock. Deutsche Bank’s price objective indicates a potential upside of 1.52% from the company’s current price. The analysts noted that the move was a valuation call.

CMC has been the topic of several other reports. Cowen set a $27.00 price objective on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a report on Tuesday, April 9th. Bank of America set a $77.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a report on Friday, May 31st. TheStreet lowered shares of Wayside Technology Group from a “b-” rating to a “c” rating in a report on Wednesday, May 22nd. Citigroup set a $74.00 price objective on shares of Realty Income and gave the stock a “hold” rating in a report on Tuesday, June 11th. Finally, ValuEngine upgraded shares of Xylem from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.10.

NYSE:CMC opened at $17.73 on Thursday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 2.23 and a beta of 1.68. Commercial Metals has a 12-month low of $13.27 and a 12-month high of $22.87. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.86 and a current ratio of 3.00. The company has a 50-day moving average price of $15.92.



Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 20th. The basic materials company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. Commercial Metals had a net margin of 2.92% and a return on equity of 14.34%. The company’s revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts predict that Commercial Metals will post 2.04 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Commercial Metals by 2.8% during the 4th quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock worth $215,565,000 after purchasing an additional 370,343 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Commercial Metals by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,779,350 shares of the basic materials company’s stock worth $156,666,000 after purchasing an additional 70,560 shares in the last quarter. Northern Trust Corp increased its position in Commercial Metals by 0.3% during the 4th quarter. Northern Trust Corp now owns 2,842,935 shares of the basic materials company’s stock worth $45,543,000 after purchasing an additional 8,995 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Commercial Metals by 40.9% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,544,127 shares of the basic materials company’s stock worth $43,454,000 after purchasing an additional 738,399 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its position in Commercial Metals by 2.3% in the first quarter. Hodges Capital Management Inc. now owns 2,190,733 shares of the basic materials company’s stock valued at $37,418,000 after acquiring an additional 48,653 shares in the last quarter. 90.61% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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