Commercial Metals (NYSE:CMC) had its price objective lifted by Citigroup from $19.00 to $22.00 in a research report report published on Tuesday morning. Citigroup currently has a hold rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on CMC. Goldman Sachs Group raised Commercial Metals from a sell rating to a neutral rating and set a $24.00 target price on the stock in a research report on Monday, August 13th. Deutsche Bank cut Commercial Metals to a buy rating in a research report on Tuesday, October 2nd. Seaport Global Securities assumed coverage on Commercial Metals in a research report on Thursday, October 11th. They set a neutral rating and a $20.00 target price on the stock. ValuEngine raised Commercial Metals from a sell rating to a hold rating in a research report on Thursday, November 1st. Finally, Macquarie set a $23.00 target price on Commercial Metals and gave the company a hold rating in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Commercial Metals presently has an average rating of Hold and an average price target of $24.13.

NYSE CMC traded down $0.63 during midday trading on Tuesday, hitting $19.52. 928,054 shares of the company traded hands, compared to its average volume of 1,733,006. The company has a current ratio of 3.83, a quick ratio of 2.75 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.38 billion, a PE ratio of 13.10 and a beta of 1.26. Commercial Metals has a 52 week low of $17.26 and a 52 week high of $26.72.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, October 25th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Commercial Metals had a return on equity of 12.11% and a net margin of 2.88%. On average, equities analysts predict that Commercial Metals will post 2.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 6th. This represents a $0.48 annualized dividend and a dividend yield of 2.46%. Commercial Metals’s dividend payout ratio is presently 32.21%.

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Commercial Metals by 79.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,647 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 3,822 shares during the last quarter. Global Financial Private Capital LLC purchased a new stake in shares of Commercial Metals during the 3rd quarter valued at $244,000. NumerixS Investment Technologies Inc lifted its holdings in shares of Commercial Metals by 62.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 15,100 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 5,832 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Commercial Metals by 48.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 17,197 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Cim Investment Mangement Inc. purchased a new stake in shares of Commercial Metals during the 2nd quarter valued at $359,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

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 five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.

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Analyst Recommendations for Commercial Metals (NYSE:CMC)

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