A significant driver of top-line growth: Commercial Metals Co. (CMC)

With 1.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.02 million shares. During the session, the Steel company that operates in wider Basic Materials sector, reached to the highest price of $53.89 whereas the lowest price it dropped to was $52.62. The 52-week range on CMC shows that it touched its highest point at $58.06 and its lowest point at $39.85 during that stretch. It currently has a 1-year price target of $59.27. With its current market cap of 6.26 billion, CMC has annualized dividend of $0.65 while the current yield stands at 1.20%. Beta for the stock currently stands at 1.32.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CMC was up-trending over the past week, with a rise of 3.72%, but this was up by 9.04% over a month. Three-month performance surged to 19.56% while six-month performance fell -2.91%. The stock lost -5.68% in the past year, while it has gained 7.51% so far this year. A look at the trailing 12-month EPS for CMC yields 6.54 with Next year EPS estimates of 4.68. For the next quarter, that number is 0.80. This implies an EPS growth rate of -30.19% for this year and -9.42% for next year.


Float and Shares Shorts:

At present, 116.52 million CMC shares are outstanding with a float of 115.30 million shares on hand for trading. On Jan 11, 2024, short shares totaled 3.06 million, which was 2.63% higher than short shares on Dec 14, 2023. In addition to CMG as the firm’s Chipotle Mexican Grill, Inc., AMC serves as its AMC Entertainment Holdings, Inc.

Institutional Ownership:

Through their ownership of 88.30% of CMC’s outstanding shares, institutional investors have majority control over the company.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CMC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CMC analysts setting a high price target of $74.00 and a low target of $52.00, the average target price over the next 12 months is $59.27. Based on these targets, CMC could surge 37.55% to reach the target high and fall by -3.35% to reach the target low. Reaching the average price target will result in a growth of 10.17% from current levels.

Summary of Insider Activity:

Insiders traded CMC stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 173 shares were bought while 4,500 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 465,318 while 389,929 shares were sold.