Shares of Commercial Metals Company (NYSE:CMC) have been given a consensus rating of “Hold” by the eleven analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.29.

Several research firms have recently weighed in on CMC. Citigroup Inc. raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the company from $21.00 to $22.00 in a report on Tuesday, June 13th. BidaskClub raised Commercial Metals from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Bank of America Corporation cut Commercial Metals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $19.00 in a report on Thursday, June 8th. Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $19.00 price target on shares of Commercial Metals in a report on Wednesday, May 24th.

A number of institutional investors have recently made changes to their positions in CMC. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commercial Metals by 67.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,331 shares of the basic materials company’s stock worth $102,000 after buying an additional 2,142 shares in the last quarter. Elkfork Partners LLC boosted its stake in Commercial Metals by 13.6% in the first quarter. Elkfork Partners LLC now owns 5,500 shares of the basic materials company’s stock worth $105,000 after buying an additional 660 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in Commercial Metals by 367.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 6,591 shares of the basic materials company’s stock worth $126,000 after buying an additional 5,182 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in Commercial Metals by 13.6% in the first quarter. Meadow Creek Investment Management LLC now owns 7,000 shares of the basic materials company’s stock worth $134,000 after buying an additional 840 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in Commercial Metals by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 6,892 shares of the basic materials company’s stock worth $134,000 after buying an additional 2,492 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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Shares of Commercial Metals (CMC) traded down 0.68% during mid-day trading on Friday, reaching $18.89. The company had a trading volume of 1,845,711 shares. Commercial Metals has a one year low of $14.57 and a one year high of $24.64. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 29.20 and a beta of 1.22. The company has a 50 day moving average price of $18.78 and a 200 day moving average price of $19.01.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 22nd. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. Commercial Metals had a return on equity of 11.43% and a net margin of 2.86%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.31 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Commercial Metals will post $0.90 EPS for the current year.

About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

Analyst Recommendations for Commercial Metals (NYSE:CMC)

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