Market Overview

UPDATE: D.A. Davidson Lowers PT On Commercial Metals Company On Well-Positioned U.S. Assets, International Division Optionality

Share:

In a report published Wednesday, D.A. Davidson analyst Brent Thielman reiterated a Buy rating on Commercial Metals Company (NYSE: CMC), but lowered the price target from $21.00 to $20.00.

In the report, D.A. Davidson noted, “Commercial Metals Company reported Q1 earnings from continuing operations of $0.32 per share compared to $0.27 (reported) last year. Results were above our estimate of $0.23 and consensus of $0.28. Revenue of $1,680.0 million (-0.2% year-over-year) was below our estimate of $1,690.4 million and consensus of $1,770.0 million. Relative to our expectations, the primary (positive) variance came from the International Marketing & Distribution (M&D) segment.”

Commercial Metals Company closed on Tuesday at $14.42.

Latest Ratings for CMC

DateFirmActionFromTo
Jul 2019DowngradesBuyHold
Jan 2019UpgradesNeutralBuy
Jan 2019Initiates Coverage OnMarket Perform

View More Analyst Ratings for CMC
View the Latest Analyst Ratings

Posted-In: Brent Thielman D.A. DavidsonAnalyst Color Price Target Analyst Ratings

 

Related Articles (CMC)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
XELMaintains60.0
SOMaintains54.0
SREMaintains141.0
EXCMaintains56.0
ESMaintains77.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Monsanto Beats Q1 Expectations

Why Shares Of Sirius XM Are Trading Higher