Citigroup upgraded shares of Commercial Metals (NYSE:CMC) to a buy rating in a report issued on Monday morning, TipRanks reports. They currently have $22.00 price objective on the basic materials company’s stock.

A number of other analysts also recently issued reports on the company. BMO Capital Markets began coverage on Commercial Metals in a research report on Tuesday, November 26th. They set a market perform rating and a $23.00 price objective for the company. Credit Suisse Group cut their price objective on Commercial Metals from $27.00 to $25.00 and set an outperform rating for the company in a research report on Tuesday, March 17th. Deutsche Bank raised Commercial Metals from a hold rating to a buy rating and raised their price objective for the stock from $18.50 to $25.00 in a research report on Tuesday, November 26th. Zacks Investment Research raised Commercial Metals from a hold rating to a strong-buy rating and set a $15.00 price objective for the company in a research report on Tuesday, March 10th. Finally, ValuEngine raised Commercial Metals from a strong sell rating to a sell rating in a research report on Friday, March 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $20.61.

NYSE CMC opened at $13.59 on Monday. Commercial Metals has a 52 week low of $10.76 and a 52 week high of $24.04. 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 business’s fifty day simple moving average is $17.88 and its 200-day simple moving average is $19.65. The firm has a market cap of $1.68 billion, a PE ratio of 5.21, a P/E/G ratio of 1.48 and a beta of 1.71.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 19th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Commercial Metals had a return on equity of 19.41% and a net margin of 5.30%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. Research analysts expect that Commercial Metals will post 2.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, April 3rd. Commercial Metals’s dividend payout ratio is currently 23.08%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. FMR LLC grew its position in Commercial Metals by 140.8% in the 4th quarter. FMR LLC now owns 3,777,289 shares of the basic materials company’s stock valued at $84,120,000 after acquiring an additional 2,208,552 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Commercial Metals by 112.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,761,382 shares of the basic materials company’s stock valued at $61,495,000 after acquiring an additional 1,462,522 shares in the last quarter. Norges Bank acquired a new position in Commercial Metals in the 4th quarter valued at about $30,398,000. Man Group plc grew its position in Commercial Metals by 442.9% in the 4th quarter. Man Group plc now owns 714,220 shares of the basic materials company’s stock valued at $15,906,000 after acquiring an additional 582,662 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in Commercial Metals in the 4th quarter valued at about $9,173,000. 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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