Commercial Metals Company (NYSE:CMC) – Investment analysts at KeyCorp increased their FY2018 earnings estimates for shares of Commercial Metals in a research report issued to clients and investors on Wednesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings of $1.03 per share for the year, up from their previous estimate of $0.95.

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Several other equities analysts have also recently commented on CMC. BidaskClub cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Clarkson Capital reissued a “sell” rating and issued a $16.00 price target on shares of Commercial Metals in a report on Tuesday, August 15th. Jefferies Group LLC reissued a “hold” rating and issued a $19.00 price target on shares of Commercial Metals in a report on Wednesday, June 28th. Macquarie initiated coverage on shares of Commercial Metals in a research report on Wednesday, September 6th. They set an “underperform” rating and a $16.00 price target for the company. Finally, Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “strong sell” rating in a research report on Monday, September 4th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.11.

Shares of Commercial Metals (CMC) opened at 19.03 on Monday. Commercial Metals has a 52-week low of $15.08 and a 52-week high of $24.64. The company’s 50 day moving average is $18.26 and its 200 day moving average is $18.68. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 29.41 and a beta of 1.22.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 2,142 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its stake in Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 5,182 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Commercial Metals by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 2,492 shares during the last quarter. LS Investment Advisors LLC increased its stake in Commercial Metals by 20.2% in the second quarter. LS Investment Advisors LLC now owns 9,197 shares of the basic materials company’s stock valued at $179,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new stake in Commercial Metals during the second quarter valued at about $202,000. 90.64% of the stock is owned by institutional investors.

Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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