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Commercial Metals

Commercial Metals Co operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and manufactures rebar and structural steel, which are key product categories for the nonresidential construction sector. The Company has two reportable segments: North America and Europe.

Commercial Metals Co

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Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) is gearing up to announce its quarterly earnings on Thursday, 2024-10-17. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Commercial Metals will report an earnings per share (EPS) of $0.89.
The market awaits Commercial Metals's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.00, leading to a 3.32% increase in the share price the following trading session.

<img src="https://www.benzinga.com/files/images/story/2024/1729090906_0.png" alt="eps graph" />
<h3>Commercial Metals Share Price Analysis</h3>
Shares of Commercial Metals were trading at $53.08 as of October 15. Over the last 52-week period, shares are up 30.89%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Insights on Commercial Metals</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Commercial Metals.
The consensus rating for Commercial Metals is Buy, based on 1 analyst ratings. With an average one-year price target of $65.0, there's a potential 22.46% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of and Cleveland-Cliffs, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Neutral trajectory for Cleveland-Cliffs, with an average 1-year price target of $14.5, suggesting a potential 72.68% downside.</li>
</ul>
<h3>Analysis Summary for Peers</h3>
The peer analysis summary presents essential metrics for and Cleveland-Cliffs, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Commercial Metals</td>
<td>Buy</td>
<td>-11.36%</td>
<td>$340.40M</td>
<td>2.82%</td>
</tr>
<tr>
<td>Cleveland-Cliffs</td>
<td>Neutral</td>
<td>-14.91%</td>
<td>$162M</td>
<td>0.03%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Commercial Metals is positioned in the middle compared to its peers in terms of consensus rating. It shows a higher revenue growth rate than its peers. However, its gross profit is lower than the average of its peers. Additionally, its return on equity is higher than the average of its peers.
<h3>Get to Know Commercial Metals Better</h3>
Commercial Metals Co operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and manufactures rebar and structural steel, which are key product categories for the nonresidential construction sector. The Company has two reportable segments: North America and Europe.
<h3>Key Indicators: Commercial Metals's Financial Health</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Negative Revenue Trend: Examining Commercial Metals's financials over 3 months reveals challenges. As of 31 May, 2024, the company experienced a decline of approximately -11.36% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: Commercial Metals's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 5.75%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.82%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Commercial Metals's ROA excels beyond industry benchmarks, reaching 1.79%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.28.
<a href="https://www.benzinga.com/quote/CMC/earnings">To track all earnings releases for Commercial Metals visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Uncovering Potential: Commercial Metals's Earnings Preview

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 8.13% on an annualized basis producing an average annual return of 22.13%. Currently, Commercial Metals has a market capitalization of $6.14 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $2,817.33 today based on a price of $53.38 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728585027_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

$1000 Invested In This Stock 5 Years Ago Would Be Worth $2,800 Today

Wolfe Research analyst Timna Tanners downgrades Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) from Outperform to Peer Perform.

Downgrades

Analyst Ratings

Wolfe Research Downgrades Commercial Metals to Peer Perform

In the current market session, Commercial Metals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) stock price is at $52.27, after a 0.62% drop. However, over the past month, the company's stock increased by 7.41%, and in the past year, by 19.65%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1728487808_0.png" alt="Past Year Chart" />

<h3>Evaluating Commercial Metals P/E in Comparison to Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Commercial Metals has a lower P/E than the aggregate P/E of 20.65 of the Metals &amp; Mining industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728487808_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

Price Over Earnings Overview: Commercial Metals

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.14% on an annualized basis producing an average annual return of 12.31%. Currently, Commercial Metals has a market capitalization of $6.17 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,133.33 today based on a price of $53.66 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727190027_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Commercial Metals Stock In The Last 10 Years

United States Steel (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) shares rallied 7% in the last trading session to close at $33.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock&#39;s 25.5% loss over the past four weeks.
U.S. Steel&#39;s stock popped on reports that a senior Nippon Steel executive traveled to Washington to meet with U.S. officials in a last-ditch effort to save Nippon Steel&#39;s proposed $14.9 billion takeover of U.S. Steel following reports a week ago that the Biden administration was preparing to block the deal.
This steel maker is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -73.6%. Revenues are expected to be $3.77 billion, down 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For U.S. Steel, the consensus EPS estimate for the quarter has been revised 26.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn&#39;t usually translate into price appreciation. So, make sure to keep an eye on X going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold).
U.S. Steel is a member of the Zacks Steel - Producers industry. One other stock in the same industry, Commercial Metals (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmc#NYSE">CMC</a>), finished the last trading session 1% lower at $48.67. CMC has returned -8.3% over the past month.
Commercial Metals&#39; consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.14. Compared to the company&#39;s year-ago EPS, this represents a change of -32.5%. Commercial Metals currently boasts a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2335003/u-s-steel-x-moves-7-0-higher-will-this-strength-last?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2335003">To read this article on Zacks.com click here.</a>

Mid Cap

Events

U.S. Steel Moves 7.0% Higher: Will This Strength Last?

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 10.75% on an annualized basis producing an average annual return of 23.85%. Currently, Commercial Metals has a market capitalization of $5.83 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $307.57 today based on a price of $50.72 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725546631_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Commercial Metals 5 Years Ago Would Be Worth Today

WIIM

CENX

MTRN

STLD

USAP

VALE

ZEUS

Shares of companies within the broader metals and mining sector are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Jefferies analyst Seth Rosenfeld initiates coverage on Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) with a Buy rating and announces Price Target of $65.

Price Target

Initiation

Jefferies Initiates Coverage On Commercial Metals with Buy Rating, Announces Price Target of $65

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 14.88% on an annualized basis producing an average annual return of 28.97%. Currently, Commercial Metals has a market capitalization of $6.08 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $3,568.06 today based on a price of $52.85 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724947236_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Commercial Metals 5 Years Ago Would Be Worth Today

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.77% on an annualized basis producing an average annual return of 26.8%. Currently, Commercial Metals has a market capitalization of $6.06 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $339.51 today based on a price of $52.69 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723566676_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Commercial Metals 5 Years Ago Would Be Worth This Much Today

Sarah E. Raiss&nbsp;will resign from her position as Lead Director of the Board, effective&nbsp;August 31, 2024, but will continue to serve on the Board.&nbsp;
Additionally, CMC announced that&nbsp;Vicki L. Avril-Groves&nbsp;will retire from the Board, effective&nbsp;August 31, 2024.
The Board has appointed&nbsp;Tandra Perkins to the Board, effective&nbsp;September 1, 2024. Ms. Perkins will serve on the Compensation and Finance Committees of the Board.
&nbsp;

Management

Commercial Metals Names Robert Wetherbee As Chairman, Effective September 1; Barbara Smith To Retire As Executive Chairman

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.59% on an annualized basis producing an average annual return of 26.13%. Currently, Commercial Metals has a market capitalization of $6.54 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $3,221.73 today based on a price of $56.86 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721923231_0_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 5 Years Ago Would Be Worth This Much Today

Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has risen 10.96% since its last report. The company recently reported that it has 3.56 million shares sold short, which is 4.15% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721843121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 6.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(CMC) - Analyzing Commercial Metals's Short Interest

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 11.14% on an annualized basis producing an average annual return of 24.44%. Currently, Commercial Metals has a market capitalization of $6.09 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $2,981.84 today based on a price of $52.99 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720209626_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Commercial Metals Company&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmc#NYSE">CMC</a>) results are gaining from strong demand in North America for each of its primary product lines. CMC is implementing price rises across its mill products, which will aid growth. The company&#39;s solid balance sheet bodes well.
However, results have been impacted by lower steel product margins than scrap costs. The company expects margins on steel products to experience further compression in the upcoming quarters. Sluggish demand in Europe is putting pressure on pricing and margins. These market conditions in Europe are expected to persist.
Solid Demand &amp; Pricing Actions: The impacts of the robust demand in North America for each of Commercial Metals&#39; major product lines are expected to be reflected in the company&#39;s results. CMC is also implementing price rises across its mill products in response to rapidly rising scrap costs, which will sustain margins.
The company expects the financial performance of the Emerging Businesses Group to gain from stable underlying market fundamentals and a solid order book. Business circumstances for the Europe Steel Group are gradually improving and should further benefit from increasing residential construction activity.
Impressive Strategic Actions: Commercial Metals will benefit from the Infrastructure Investment and Jobs Act signed in November 2021, which will provide 1.2 trillion in funding over five years and stimulate an estimated 1.5 million tons of incremental annual rebar demand at a full run rate.
The commissioning of the Arizona 2 micro mill, as well as the addition of Tensar&#39;s engineered solutions capabilities, will provide the company with greater flexibility to capitalize on these favorable demand conditions.
Commercial Metals&#39; focus on augmenting its core capabilities while expanding growth in markets, customer groups and applications will aid growth. The company continues to gain from its ongoing network optimization efforts, which will yield additional margins and reduce costs in the near future.
Strong Balance Sheet: Commercial Metals&#39; total liquidity reached $1.5 billion as of May 31, 2024. The company reported cash and cash equivalents of $698 million at the end of the third quarter of fiscal 2024 compared with $592 million at the end of fiscal 2023.
Its strong liquidity, financial position and focus on reducing debt by strategic capital allocation approach will stoke growth. This further underscores the company&#39;s ability to meet debt obligations.
On Jun 19, Commercial Metals declared a quarterly dividend of 18 cents per share. The dividend will be paid out on Jul 10 to shareholders of record as of Jul 1, 2024.
<h3>Near-Term Concerns</h3>
The company has been bearing the impacts of lower steel product margins over scrap costs in North America and Europe. European Union sanctions placed on imported materials from Russia and Belarus are expected to tighten the supply of long steel products. If the situation persists, this is expected to dent the company&#39;s margin.
In Europe, sluggish demand put pressure on pricing and margins in the first half of fiscal 2024. Sentiment and activity levels in the company&#39;s construction and industrial end markets were impacted by general economic uncertainties.
In response to market imbalances, the Polish long steel industry has significantly reduced production and inventory levels. Conditions in Europe are projected to be challenging, weighing on the company&#39;s results.
<h3>Price Performance</h3>
Shares of CMC have gained 2.3% in the past year against the industry&#39;s decline of 0.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/47/70394.jpg?v=215679639" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Commercial Metals currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Ero Copper Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ero#NYSE">ERO</a>), Ecolab Inc. and ATI Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ati#NYSE">ATI</a>). While ERO sports a Zacks Rank #1 (Strong Buy), ECL and ATI carry a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Ero Copper&#39;s 2024 earnings is pegged at $1.66 per share. The consensus estimate for 2024 earnings has moved 20.3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 53.9%. ERO shares have gained 9.5% in a year.
The Zacks Consensus Estimate for Ecolab&#39;s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year&#39;s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.
The Zacks Consensus Estimate for ATI&#39;s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI&#39;s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company&#39;s shares have rallied 65.9% in the past year.
<a href="https://www.zacks.com/stock/news/2297275/commercial-metals-cmc-bets-on-us-demand-as-europe-market-ails?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2297275">To read this article on Zacks.com click here.</a>

Commercial Metals Bets on US Demand as Europe Market Ails

Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has risen 24.67% since its last report. The company recently reported that it has 3.21 million shares sold short, which is 3.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.21 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720017921_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 6.43%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Commercial Metals?

B of A Securities analyst Lawson Winder maintains Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) with a Buy and lowers the price target from $70 to $69.

B of A Securities Maintains Buy on Commercial Metals, Lowers Price Target to $69

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.23% on an annualized basis producing an average annual return of 11.96%. Currently, Commercial Metals has a market capitalization of $6.15 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,149.05 today based on a price of $53.40 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719244840_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 10 Years Ago Would Be Worth This Much Today

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&amp;P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, <a href="https://www.benzinga.com/markets">which dampened risk sentiment.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) fell by 2.4%, marking its worst session since May 1, after reaching technically &#8220;overbought&#8221; levels earlier in the week.
Oil prices surged above $81 a barrel, aiming for the highest close since late April. This was spurred by larger-than-expected drops in U.S. inventories last week, fueling a rally in oil-related companies.
Small caps also softened, whereas blue chips saw a rebound, with the Dow Jones Industrial Average outperforming other major indices with a 0.4% gain.
Long-dated Treasury yields rose, with the 10-year yield up by 5 basis points to 4.27%, following mixed economic data released earlier in the day. Jobless claims slightly increased more than expected last week, and a manufacturing activity gauge in the Philadelphia region fell short of estimates, reaching its lowest <a href="https://www.benzinga.com/markets/equities/24/06/39411920/jobless-claims-exceed-estimates-philly-fed-index-declines-housing-starts-and-permits-fall-sharpl">level in five months. </a>
Additionally, housing data showed sharp declines in both housing starts and building permits, reigniting concerns about a tight real estate market.
Bonds fell, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down 0.9%. The U.S. dollar index (DXY) rose 0.4%, with the greenback gaining ground against all major currencies.
The Bank of England kept its key policy rate unchanged at 5.25%, as expected, while the Swiss National Bank cut rates by 0.25 <a href="https://www.benzinga.com/top-stories/24/06/39415866/interest-rate-decisions-bank-of-england-holds-firm-swiss-national-bank-reduces-further-will-fed-cut">percentage points to 1.25%</a>. Consequently, the British pound and the Swiss franc fell by 0.5% and 0.8%, respectively, against the dollar.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose by 1.1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained flat below $65,000.
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,982.71</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,477.61</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,020.24</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,793.76</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 pm ET</figcaption></figure>
According to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.24.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.4% higher to $390.90.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.6% lower to $482.43.</li>
<li>Sector-wise, the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperformed, up by 1.8%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, falling 0.9%.</li>
</ul>
<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>
<ul>
<li>The world&#8217;s biggest company Nvidia Corp. witnessed a 2% decline, while Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) and Wolfspeed Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NASDAQ">WOLF</a>) all tumbled by over 5%.</li>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) surged nearly 4%, outperforming all other chipmakers. This rise followed the announcement that Sun Singapore Systems, the largest parking solutions provider in Singapore, has selected AMD to power its AI-based parking management platform.</li>
<li>Solar-related stocks experienced sharp declines after JPMorgan reduced price targets on Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) from $128 to $124 and on SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from $73 to $59.</li>
<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) soared over 8% after the company announced that a twice-yearly antiviral injection had successfully prevented HIV in all test subjects during a trial involving thousands of women and girls in South Africa and Uganda.</li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) rose over 6%, despite missing both revenue and earnings estimate last quarter. </li>
<li>Other stocks reacting to company earnings were The Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), down 2.8%, Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), down 1.5%, Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), down 8.7% and Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>), up 5%. </li>
</ul>
Read now: <a href="https://www.benzinga.com/government/24/06/39416977/supreme-court-upholds-2017-tax-on-foreign-profits-for-us-businesses">Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses</a>
Illustration created using artificial intelligence via MidJourney.

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Econ #s

Economics

Tech

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SPDR Dow Jones Industrial Average ETF Trust

ENPH

GILD

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iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

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Here's the major earnings before the open tomorrow

ABBNY

ABCB

CAMT

CBSH

CHRD

ENOV

FLEX

FULT

FULTP

GMED

HBAN

HEES

IIIN

INFY

IRDM

NRDBY

NVMI

OASPW

PAAS

PINC

PIPR

RSHO

STAG

TCBI

WLLAW

WLLBW

Press Releases

CMC REPORTS THIRD QUARTER FISCAL 2024 RESULTS

Commodities

CMC Announces Executive and Board Leadership Changes

Entertainment

General

"Decoded": Groundbreaking Chinese Psychological Thriller Film Set for Global Release on August 22

CMC Awarded on TIME's America's Best Mid-Size Companies 2024 List

D.R. Horton, Inc. Appoints Three New Independent Directors

CMC Announces Fourth Quarter Fiscal 2024 Conference Call Webcast Details

CMC Announces Fourth Quarter Fiscal 2024 Conference Call Time One Hour Earlier

CMC Announces Appointment of Kekin Ghelani as Senior Vice President, Chief Strategy Officer

Dividends

CMC Announces Quarterly Dividend of $0.18 Per Share

BLDR

LOAR

Alpha Metallurgical Resources, Inc. Common Stock

Alpha Metallurgical

Cleveland-Cliffs

Carpenter Technology Corporation Common Stock

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Ramaco Resources, Inc. - Class A Common Stock

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Companhia Siderurgica Nacional S.A. Common Stock

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Grupo Simec

Steel Dynamics

SunCoke Energy

Ternium S.A. Ternium S.A. American Depositary Shares (each representing ten shares, USD1.00 par value)

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