Commercial Metals Co. (NYSE:CMC) saw an upside of 0.97% to close Friday at $49.75 after adding $0.48 on the day. The 5-day average trading volume is 794,600 shares of the company’s common stock. It has gained $52.92 in the past week and touched a new high 2 times within the past 5 days. An average of 846,375 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 706,644.
CMC’s 1-month performance is -9.07% or -$5.47 on its low of $49.08 reached on 09/21/23. The company’s shares have touched a 52-week low of $35.22 and high of $58.09, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, CMC has achieved 3.00% or $1.45 and has reached a new high 10 times. However, the current price is down -14.36% from the 52-week high price.
Insider Transactions
CMC stock investors last saw insider trading activity on Jul 25.Smith Barbara (Chairman & CEO) most recently sold 48,300 shares at $56.51 per share on Jul 25. This transaction cost the insider $2,729,433. Chairman & CEO, Smith Barbara, sold 1,700 shares at a price of $56.45 on Jul 18. Then, on Jul 14, VP & Chief Accounting Officer SLOAN LINDSAY L sold 100 shares at a price of $55.17 per share. This transaction amounted to $5,517.
Valuation Metrics
CMC stock has a beta of 1.33. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.65 while the price-to-book (PB) in the most recent quarter is 1.45, with the price to cash flow ratio at 7.28.
Commercial Metals Co.’s quick ratio for the period ended May 30 was 2.34, with the current ratio over the same period at 3.68. As well, the company’s long term debt to equity for the quarter ending May 30 was 0.27, while the total debt to equity was 0.29. In terms of profitability, the gross margin trailing 12 months is 21.11%. The trailing 12-month EBITDA margin is 16.85% while for the period ending May 30, Commercial Metals Co.’s operating margin was 14.17%. The firm’s gross profit as reported stood at $1.86 billion against revenue of $8.91 billion.
Earnings Surprise
For the quarterly period ending May 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 47.33% to $288.63 million, while revenue of $312.43 million was -8.25% off the previous quarter. Analysts expected CMC to announce $1.76 per share in earnings in its latest quarter, but it posted $2.02, representing a 14.80% surprise. EBITDA for the quarter stood at more than $374.87 million. CMC stock balance sheet for the quarter ending May 30 shows that total liabilities totaled 2.5 billion, with total debt at $1.33 billion. Shareholders hold equity totaling $116.79 million.
Let’s look briefly at Commercial Metals Co. (CMC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 28.93% to suggest the stock is trending oversold, with historical volatility in this time period at 27.33%.
The stock’s 5-day moving average is $50.55, reflecting a -3.73% or -$1.93 change from its current price. CMC is currently trading -7.96% above its 20-day SMA, +8.29% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -11.05% and SMA200 by+1.10%.
Stochastic %K and %D was 3.73% and 3.02% and the average true range (ATR) pointed at 1.43. The RSI (14) points at 33.04%, while the 14-day stochastic is at 8.09% with the period’s ATR at 1.42. The stock’s 9-day MACD Oscillator is pointing at -1.55 and -2.62 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Commercial Metals Co. (NYSE: CMC), UBS launched coverage with a Buy rating. Analysts offering their rating for CMC stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CMC as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.
What is CMC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $56.00 and a high of $74.00, with their median price target at $60.00. Looking at these predictions, the average price target given by analysts is for Commercial Metals Co. (CMC) stock is $61.33.
