Commercial Metals (NYSE:CMC) Lowered to “C” at TheStreet

TheStreet lowered shares of Commercial Metals (NYSE:CMC) from a b- rating to a c rating in a research report sent to investors on Monday morning, TheStreetRatingsTable reports.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Commercial Metals from a hold rating to a strong-buy rating and set a $15.00 price target for the company in a research report on Tuesday, March 10th. BMO Capital Markets assumed coverage on shares of Commercial Metals in a research report on Tuesday, November 26th. They set a market perform rating and a $23.00 price target for the company. ValuEngine raised shares of Commercial Metals from a strong sell rating to a sell rating in a research report on Friday, March 13th. Credit Suisse Group reduced their price target on shares of Commercial Metals from $27.00 to $25.00 and set an outperform rating for the company in a research report on Tuesday, March 17th. Finally, Bank of America raised shares of Commercial Metals from an underperform rating to a buy rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $20.61.

CMC traded up $1.10 during midday trading on Monday, hitting $14.69. 2,349,759 shares of the company traded hands, compared to its average volume of 2,000,479. The company has a quick ratio of 2.11, a current ratio of 3.21 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.61 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 1.58 and a beta of 1.71. The company’s 50-day moving average is $17.74 and its 200 day moving average is $19.65. Commercial Metals has a 52 week low of $10.76 and a 52 week high of $24.04.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 19th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Commercial Metals had a net margin of 5.30% and a return on equity of 19.41%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Commercial Metals will post 2.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.27%. The ex-dividend date is Friday, April 3rd. Commercial Metals’s dividend payout ratio is 23.08%.

A number of institutional investors have recently added to or reduced their stakes in CMC. First Trust Advisors LP increased its holdings in Commercial Metals by 101.6% in the 1st quarter. First Trust Advisors LP now owns 106,923 shares of the basic materials company’s stock worth $1,826,000 after acquiring an additional 53,885 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Commercial Metals in the third quarter worth $118,000. Stifel Financial Corp purchased a new stake in Commercial Metals in the third quarter worth $455,000. California State Teachers Retirement System increased its stake in Commercial Metals by 1.4% in the third quarter. California State Teachers Retirement System now owns 194,693 shares of the basic materials company’s stock worth $3,384,000 after purchasing an additional 2,717 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Commercial Metals by 15.3% in the third quarter. Parametric Portfolio Associates LLC now owns 1,121,570 shares of the basic materials company’s stock worth $19,493,000 after purchasing an additional 148,873 shares during the period. 88.07% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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