UBS Group Has Lowered Expectations for Commercial Metals (NYSE:CMC) Stock Price

Commercial Metals (NYSE:CMC) had its target price reduced by UBS Group from $54.00 to $49.00 in a report released on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. BMO Capital Markets cut their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $48.83 on Monday. The business has a 50 day moving average of $48.81 and a 200 day moving average of $52.71. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The company has a market cap of $5.55 billion, a PE ratio of 43.99, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Hedge Funds Weigh In On Commercial Metals

Several large investors have recently modified their holdings of CMC. Park Square Financial Group LLC bought a new stake in Commercial Metals during the 4th quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 267 shares during the last quarter. South Plains Financial Inc. bought a new position in Commercial Metals in the 4th quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp boosted its stake in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.