Commercial Metals Company (CMC) is Downgraded by BofA/Merrill to Underperform

Commercial Metals Company (CMC) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Commercial Metals Company. Shares were Downgraded by Credit Agricole on Mar 28, 2016 to ” Sell” and Lowered the Price Target to $ 15 from a previous price target of $17 .Commercial Metals Company was Downgraded by Jefferies to ” Hold” on Mar 21, 2016. Commercial Metals Company was Initiated by Credit Suisse to “Neutral” on Mar 11, 2016.

On the company’s financial health, Commercial Metals Company reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Mar 24, 2016. Analyst had a consensus of $0.12. The company had revenue of $1019.70 million for the quarter, compared to analysts expectations of $1083.63 million. The company’s revenue was down -26.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.52 EPS.

Commercial Metals Company opened for trading at $17.04 and hit $17.43 on the upside on Wednesday, eventually ending the session at $17.38, with a gain of 1.22% or 0.21 points. The heightened volatility saw the trading volume jump to 13,37,649 shares. Company has a market cap of $1,991 M.

In a different news, on May 16, 2016, Adam R Hickey (VICE PRESIDENT & CONTROLLER) sold 5,000 shares at $17.00 per share price. According to the SEC, on Apr 25, 2016, Paul K. Kirkpatrick (VP, GENERAL COUNSEL & SECRETAR) sold 2,500 shares at $18.20 per share price. On Apr 21, 2016, Terry P. Hatten (VP & CHIEF HUMAN RESOURCES OFF) sold 5,621 shares at $18.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Commercial Metals Company (CMC) manufactures recycles and markets steel and metal products related materials and services. CMC has a network of steel mills (minimills) steel fabrication and processing facilities warehouses metal recycling facilities. It has five business segments: Americas Recycling Americas Mills Americas Fabrication International Mill and International Marketing and Distribution. The Americas Recycling segment processes scrap metals. The Americas Mills segment includes five steel minimills; two scrap metal shredders and 10 scrap metal processing facilities. The Americas Fabrication segment consists of CMC’s steel fabrication facilities. The International Mill segment comprises CMC’s mill recycling and fabrication operations located in Poland. International Marketing and Distribution segment includes international operations for the sales distribution and processing of steel products ferrous and nonferrous metals and other industrial products.

Commercial Metals Company

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