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

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.