Commercial Metals (NYSE:CMC) Downgraded by Deutsche Bank

Deutsche Bank downgraded shares of Commercial Metals (NYSE:CMC) from a buy rating to a hold rating in a report released on Thursday morning, BenzingaRatingsTable reports. They currently have $18.00 price objective on the basic materials company’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. Citigroup set a $74.00 price target on shares of Realty Income and gave the stock a hold rating in a report on Tuesday, June 11th. Macquarie restated a buy rating on shares of Neo Lithium in a report on Friday, March 22nd. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the stock a hold rating in a report on Tuesday, April 9th. Finally, TheStreet cut shares of Wayside Technology Group from a b- rating to a c rating in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Commercial Metals currently has a consensus rating of Hold and a consensus target price of $19.10.

NYSE CMC opened at $17.73 on Thursday. The business has a 50-day moving average of $15.92. The company has a current ratio of 3.00, a quick ratio of 1.86 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $2.09 billion, a PE ratio of 9.74, a PEG ratio of 2.29 and a beta of 1.68. Commercial Metals has a 12 month low of $13.27 and a 12 month high of $22.87.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, July 5th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, July 3rd. Commercial Metals’s payout ratio is presently 32.21%.

A number of large investors have recently added to or reduced their stakes in CMC. California Public Employees Retirement System lifted its stake in Commercial Metals by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 316,645 shares of the basic materials company’s stock worth $5,073,000 after acquiring an additional 5,418 shares during the period. New York State Common Retirement Fund lifted its stake in Commercial Metals by 1.6% in the fourth quarter. New York State Common Retirement Fund now owns 249,601 shares of the basic materials company’s stock worth $3,999,000 after acquiring an additional 3,855 shares during the period. BlackRock Inc. lifted its stake in Commercial Metals by 2.8% in the fourth quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock worth $215,565,000 after acquiring an additional 370,343 shares during the period. Texas Permanent School Fund lifted its stake in Commercial Metals by 4.6% in the fourth quarter. Texas Permanent School Fund now owns 76,976 shares of the basic materials company’s stock worth $1,233,000 after acquiring an additional 3,350 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Commercial Metals by 18.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,775 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 5,642 shares during the period. 90.61% of the stock is owned by 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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