Brokerages Set Commercial Metals Company (NYSE:CMC) Price Target at $74.80

Shares of Commercial Metals Company (NYSE:CMC) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $74.8182.

CMC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research report on Friday. KeyCorp started coverage on Commercial Metals in a report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Finally, UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $89.00 in a report on Wednesday, May 13th.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $71.87 on Thursday. The company has a market cap of $7.97 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.42 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $84.87. The business has a fifty day simple moving average of $66.13 and a 200-day simple moving average of $69.02.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. Commercial Metals’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Equities research analysts forecast that Commercial Metals will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a $0.20 dividend. The ex-dividend date was Monday, April 6th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. Commercial Metals’s payout ratio is 16.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of Commercial Metals during the third quarter worth about $25,000. Rothschild Investment LLC lifted its stake in shares of Commercial Metals by 169.6% during the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 324 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Commercial Metals by 110.7% during the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 301 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Commercial Metals during the fourth quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Commercial Metals by 617.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 716 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.