CMC Stock Summary and Trading Ideas (Commercial Metals Company | NYSE:CMC)

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 Company trades on the NYSE stock market under the symbol CMC.

As of April 19, 2024, CMC stock price declined to $55.21 with 531,837 million shares trading.

CMC has a beta of 1.17, meaning it tends to be more sensitive to market movements. CMC has a correlation of 0.24 to the broad based SPY ETF.

CMC has a market cap of $6.39 billion. This is considered a Mid Cap stock.

Last quarter Commercial Metals Company reported $2 billion in Revenue and $.88 earnings per share. This beat revenue expectation by $48 million and exceeded earnings estimates by $.15.

In the last 3 years, CMC stock traded as high as $59.81 and as low as $27.69.

The top ETF exchange traded funds that CMC belongs to (by Net Assets): VTI, IJH, VB, IWM, VBR.

CMC has underperformed the market in the last year with a price return of +15.5% while the SPY ETF gained +21.2%. However, in the short term, CMC had mixed performance relative to the market. It has outperformed in the last 3 months, returning +10.3% vs +4.3% return in SPY. But in the last 2 weeks, CMC shares have been beat by the market, returning -3.8% compared to an SPY return of -3.5%.

CMC support price is $54.41 and resistance is $56.15 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CMC stock will trade within this expected range on the day.