Commercial Metals Company (CMC) Gets a Buy Rating from Jefferies


Jefferies analyst Seth Rosenfeld reiterated a Buy rating on Commercial Metals Company (NYSE: CMC) on October 25 and set a price target of $23. The company’s shares closed on Friday at $17.74, close to its 52-week low of $17.26.

According to TipRanks.com, Rosenfeld is a 4-star analyst with an average return of 11.2% and a 60.0% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Worthington Industries, Cleveland-Cliffs Inc, and United States Steel.

Currently, the analyst consensus on Commercial Metals Company is a Moderate Buy with an average price target of $22.50.

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Based on Commercial Metals Company’s latest earnings release for the quarter ending August 31, the company reported a quarterly net profit of $51.56 million. In comparison, last year the company had a GAAP net loss of $29.54 million.

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Commercial Metals Co. engages in the manufacture, recycle, and market steel and metal products. It operates through the following segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products.

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