Commercial Metals Co. [NYSE: CMC] stock went on an upward path that rose over 5.34% on Thursday, amounting to a one-week price increase of more than 10.92%. The company report on March 21, 2024 at 6:45 AM that CMC Reports Second Quarter Fiscal 2024 Results.
Second quarter net earnings of $85.8 million, or $0.73 per diluted share.
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Consolidated core EBITDA of $224.4 million; core EBITDA margin of 12.1%.
Over the last 12 months, CMC stock rose by 28.07%. The one-year Commercial Metals Co. stock forecast points to a potential upside of 2.33. The average equity rating for CMC stock is currently 2.11, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.87 billion, with 116.52 million shares outstanding and 115.31 million shares in the current float. Compared to the average trading volume of 992.63K shares, CMC stock reached a trading volume of 2770732 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Commercial Metals Co. [CMC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CMC shares is $60.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CMC stock is a recommendation set at 2.11. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Commercial Metals Co. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on July 11, 2023, representing the official price target for Commercial Metals Co. stock. Previously, the target price had yet another raise from $56 to $60, while BofA Securities kept a Buy rating on CMC stock.
The Average True Range (ATR) for Commercial Metals Co. is set at 1.52, with the Price to Sales ratio for CMC stock in the period of the last 12 months amounting to 0.82. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 5.48. Price to Free Cash Flow for CMC in the course of the last twelve months was 10.45 with Quick ratio for the last quarter at 2.69.
CMC Stock Performance Analysis:
Commercial Metals Co. [CMC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.92. With this latest performance, CMC shares gained by 9.95% in over the last four-week period, additionally plugging by 17.16% over the last 6 months – not to mention a rise of 28.07% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CMC stock in for the last two-week period is set at 74.70, with the RSI for the last a single of trading hit 81.82, and the three-weeks RSI is set at 70.13 for Commercial Metals Co. [CMC]. The present Moving Average for the last 50 days of trading for this stock 52.87, while it was recorded at 55.45 for the last single week of trading, and 50.59 for the last 200 days.
Insight into Commercial Metals Co. Fundamentals:
Commercial Metals Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.69 and a Current Ratio set at 4.19.
CMC Stock EPS
With the latest financial reports released by the company, Commercial Metals Co. posted 1.44/share EPS, while the average EPS was predicted by analysts to be reported at 1.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CMC.
Commercial Metals Co. [CMC] Institutonal Ownership Details
The top three institutional holders of CMC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CMC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CMC stock with ownership which is approximately 5.8325%.
