Commercial Metals (NYSE:CMC)’s stock price hit a new 52-week high on Friday . The company traded as high as $20.44 and last traded at $20.37, with a volume of 184054 shares traded. The stock had previously closed at $20.18.
A number of equities analysts have weighed in on CMC shares. TheStreet upgraded shares of Commercial Metals from a “c+” rating to a “b” rating in a research report on Tuesday, July 16th. Goldman Sachs Group lowered shares of Commercial Metals from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Sunday, September 22nd. Bank of America increased their target price on shares of Commercial Metals from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Thursday, October 24th. ValuEngine upgraded shares of Commercial Metals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. set a $22.00 target price on shares of Commercial Metals and gave the stock a “buy” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and a consensus price target of $18.87.
The company has a quick ratio of 2.00, a current ratio of 2.99 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.37 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.78. The business’s 50-day simple moving average is $18.51 and its two-hundred day simple moving average is $17.00.
Commercial Metals (NYSE:CMC) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.57 billion. Commercial Metals had a net margin of 3.40% and a return on equity of 16.04%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Analysts anticipate that Commercial Metals will post 2.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, November 5th. Commercial Metals’s payout ratio is 23.08%.
Several institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC purchased a new stake in shares of Commercial Metals in the third quarter worth about $280,000. Alps Advisors Inc. purchased a new stake in shares of Commercial Metals in the third quarter worth about $336,000. SG Americas Securities LLC purchased a new stake in shares of Commercial Metals in the third quarter worth about $118,000. First Trust Advisors LP lifted its holdings in shares of Commercial Metals by 10.0% in the third quarter. First Trust Advisors LP now owns 125,187 shares of the basic materials company’s stock worth $2,176,000 after buying an additional 11,418 shares in the last quarter. Finally, ARP Americas LP purchased a new stake in shares of Commercial Metals in the third quarter worth about $193,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.
About Commercial Metals (NYSE:CMC)
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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