Citigroup set a $18.00 price objective on Commercial Metals (NYSE:CMC) in a research report report published on Tuesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts have also recently commented on the company. ValuEngine cut Commercial Metals from a hold rating to a sell rating in a report on Friday, October 12th. Macquarie set a $23.00 target price on Commercial Metals and gave the company a hold rating in a report on Friday, October 26th. Seaport Global Securities initiated coverage on Commercial Metals in a report on Thursday, October 11th. They set a neutral rating and a $20.00 target price for the company. Deutsche Bank lowered Commercial Metals to a buy rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded Commercial Metals from a hold rating to a strong-buy rating and set a $18.00 price target for the company in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Commercial Metals currently has a consensus rating of Hold and a consensus target price of $21.44.

Shares of Commercial Metals stock traded down $0.26 during mid-day trading on Tuesday, reaching $15.81. 1,991,937 shares of the stock traded hands, compared to its average volume of 2,142,342. Commercial Metals has a fifty-two week low of $15.23 and a fifty-two week high of $26.72. The stock has a market capitalization of $1.90 billion, a P/E ratio of 10.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.68 and a quick ratio of 2.75.

Commercial Metals (NYSE:CMC) last announced its earnings results on Monday, January 7th. The basic materials company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Commercial Metals had a return on equity of 12.32% and a net margin of 2.51%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. As a group, research analysts anticipate that Commercial Metals will post 2.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be given a $0.12 dividend. The ex-dividend date is Monday, January 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.04%. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.

Several hedge funds have recently bought and sold shares of CMC. Voya Investment Management LLC grew its position in Commercial Metals by 2.9% in the second quarter. Voya Investment Management LLC now owns 2,133,160 shares of the basic materials company’s stock worth $45,031,000 after acquiring an additional 60,443 shares during the period. Envestnet Asset Management Inc. grew its position in Commercial Metals by 6,417.4% in the second quarter. Envestnet Asset Management Inc. now owns 133,345 shares of the basic materials company’s stock worth $2,815,000 after acquiring an additional 131,299 shares during the period. Deutsche Bank AG grew its position in Commercial Metals by 36.1% in the third quarter. Deutsche Bank AG now owns 531,088 shares of the basic materials company’s stock worth $10,896,000 after acquiring an additional 141,010 shares during the period. Global X Management Co LLC grew its position in Commercial Metals by 18.7% in the second quarter. Global X Management Co LLC now owns 28,397 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 4,481 shares during the period. Finally, OppenheimerFunds Inc. grew its position in Commercial Metals by 4.2% in the second quarter. OppenheimerFunds Inc. now owns 74,946 shares of the basic materials company’s stock worth $1,583,000 after acquiring an additional 3,041 shares during the period. Institutional investors and hedge funds own 87.00% of the company’s stock.

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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