Citigroup Analysts Give Commercial Metals (NYSE:CMC) a $16.00 Price Target

Citigroup set a $16.00 target price on Commercial Metals (NYSE:CMC) in a research note published on Tuesday, Stock Target Advisor reports. The firm currently has a hold rating on the basic materials company’s stock.

Several other brokerages have also weighed in on CMC. Cowen reaffirmed a market perform rating and issued a $18.50 target price (up from $17.00) on shares of Commercial Metals in a research report on Tuesday, April 9th. Macquarie raised Commercial Metals from a neutral rating to an outperform rating and increased their target price for the stock from $15.23 to $17.37 in a research report on Friday, March 22nd. ValuEngine raised Commercial Metals from a strong sell rating to a sell rating in a research report on Friday, March 22nd. TheStreet lowered Commercial Metals from a b- rating to a c+ rating in a research report on Wednesday, May 22nd. Finally, Bank of America reaffirmed an underperform rating and issued a $18.00 target price on shares of Commercial Metals in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $19.10.

Shares of CMC opened at $15.12 on Tuesday. Commercial Metals has a 12-month low of $13.27 and a 12-month high of $24.14. The firm has a market cap of $1.75 billion, a P/E ratio of 10.15, a PEG ratio of 4.91 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, analysts predict that Commercial Metals will post 2.02 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Commercial Metals by 2.8% during the fourth quarter. BlackRock Inc. now owns 13,455,935 shares of the basic materials company’s stock valued at $215,565,000 after purchasing an additional 370,343 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Commercial Metals by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,879,738 shares of the basic materials company’s stock valued at $168,745,000 after purchasing an additional 100,388 shares during the period. Northern Trust Corp increased its holdings in shares of Commercial Metals by 0.8% during the first quarter. Northern Trust Corp now owns 2,865,535 shares of the basic materials company’s stock valued at $48,942,000 after purchasing an additional 22,600 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of Commercial Metals by 40.9% during the first quarter. Deprince Race & Zollo Inc. now owns 2,544,127 shares of the basic materials company’s stock valued at $43,454,000 after purchasing an additional 738,399 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Commercial Metals by 3.5% during the first quarter. Wellington Management Group LLP now owns 2,445,046 shares of the basic materials company’s stock valued at $41,763,000 after purchasing an additional 83,365 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

About Commercial Metals

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.

Featured Article: What is the downside to momentum investing?

Analyst Recommendations for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.