BMO Capital Markets Has Lowered Expectations for Commercial Metals (NYSE:CMC) Stock Price

Commercial Metals (NYSE:CMC) had its price target reduced by investment analysts at BMO Capital Markets from $62.00 to $58.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 19.76% from the stock’s previous close.

Several other equities analysts have also weighed in on CMC. UBS Group reissued a “sell” rating and set a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Wolfe Research lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group began coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Morgan Stanley initiated coverage on shares of Commercial Metals in a report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective on the stock. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average price target of $64.67.

Commercial Metals Stock Down 1.5 %

Shares of Commercial Metals stock traded down $0.72 during trading on Friday, hitting $48.43. 99,349 shares of the stock traded hands, compared to its average volume of 439,233. The company has a fifty day moving average price of $57.13 and a two-hundred day moving average price of $54.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. Commercial Metals has a twelve month low of $47.42 and a twelve month high of $64.53. The stock has a market cap of $5.52 billion, a P/E ratio of 11.70, a PEG ratio of 2.74 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Equities research analysts predict that Commercial Metals will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Commercial Metals

A number of institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Commercial Metals in the 3rd quarter valued at $66,000. GAMMA Investing LLC raised its position in shares of Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after buying an additional 944 shares in the last quarter. KBC Group NV lifted its holdings in shares of Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after acquiring an additional 425 shares during the last quarter. Highland Capital Management LLC purchased a new position in Commercial Metals in the third quarter worth $206,000. Finally, Harbor Capital Advisors Inc. increased its stake in Commercial Metals by 29.7% in the third quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 870 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.