Commercial Metals Company (CMC) is Initiated by Citigroup to Neutral, Price Target at $16

Commercial Metals Company (CMC) was Initiated by Citigroup to “Neutral” and the brokerage firm has set the Price Target at $16. Citigroup advised their investors in a research report released on Aug 22, 2016.

Many Wall Street Analysts have commented on Commercial Metals Company. Commercial Metals Company was Downgraded by BofA/Merrill to ” Underperform” on Jun 2, 2016.

On the company’s financial health, Commercial Metals Company reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 23, 2016. Analyst had a consensus of $0.29. The company had revenue of $1227.40 million for the quarter, compared to analysts expectations of $1195.85 million. The company’s revenue was down -18.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.58 EPS.

Commercial Metals Company closed down -0.42 points or -2.57% at $15.91 with 11,19,616 shares getting traded on Friday. Post opening the session at $16.13, the shares hit an intraday low of $15.74 and an intraday high of $16.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 6, 2016, Anthony A Massaro (director) sold 2,367 shares at $16.36 per share price. According to the SEC, on May 16, 2016, Adam R Hickey (VICE PRESIDENT & CONTROLLER) sold 5,000 shares at $17.00 per share price. On Apr 25, 2016, Paul K. Kirkpatrick (VP, GENERAL COUNSEL & SECRETAR) sold 2,500 shares at $18.20 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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