2024-06-25 01:48:24 ET
Summary
- Commercial Metals Company has seen a decrease in net sales as compared to the prior year quarter.
- Downward pressure on steel prices has in turn placed pressure on margins.
- I rate the stock as a Hold at this time.
Investment Thesis: I rate the stock as a Hold at this time.
Commercial Metals Company ( CMC ) is best known as being the largest manufacturer of steel reinforcing bar in North America and Central Europe, and also produces merchant bar, steel fence post and wire rod. The company is a supplier for major construction projects across two continents....
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Commercial Metals Company: Lower Steel Prices Placing Pressure On Net Sales