Q2 2018 EPS Estimates for Commercial Metals Raised by Analyst (CMC)

Commercial Metals (NYSE:CMC) – Jefferies Group increased their Q2 2018 earnings per share (EPS) estimates for shares of Commercial Metals in a report issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will post earnings of $0.30 per share for the quarter, up from their previous estimate of $0.26. Jefferies Group has a “Buy” rating and a $24.00 price target on the stock. Jefferies Group also issued estimates for Commercial Metals’ Q3 2018 earnings at $0.61 EPS and FY2019 earnings at $2.23 EPS.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Commercial Metals from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. Bank of America raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a report on Thursday, December 7th. Four investment analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.88.

Shares of Commercial Metals (NYSE CMC) opened at $23.42 on Wednesday. The stock has a market cap of $2,740.00, a price-to-earnings ratio of 43.37 and a beta of 1.27. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56. Commercial Metals has a one year low of $17.05 and a one year high of $25.90.

Commercial Metals (NYSE:CMC) last issued its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.14. Commercial Metals had a net margin of 1.53% and a return on equity of 8.08%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year.

Several institutional investors and hedge funds have recently bought and sold shares of CMC. Janus Henderson Group PLC bought a new stake in shares of Commercial Metals in the 2nd quarter worth about $29,018,000. Deprince Race & Zollo Inc. grew its holdings in Commercial Metals by 58.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,018,145 shares of the basic materials company’s stock worth $57,435,000 after acquiring an additional 1,117,876 shares during the last quarter. Teachers Advisors LLC grew its holdings in Commercial Metals by 322.3% during the 2nd quarter. Teachers Advisors LLC now owns 1,043,599 shares of the basic materials company’s stock worth $20,277,000 after acquiring an additional 796,477 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Commercial Metals by 4,203.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock worth $11,218,000 after acquiring an additional 575,835 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Commercial Metals by 13.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,512,233 shares of the basic materials company’s stock worth $87,673,000 after acquiring an additional 526,185 shares during the last quarter. 88.65% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Tracy L. Porter sold 13,601 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $25.04, for a total transaction of $340,569.04. Following the completion of the transaction, the executive vice president now directly owns 10 shares in the company, valued at approximately $250.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tracy L. Porter sold 6,935 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $25.14, for a total transaction of $174,345.90. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at $251.40. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were given a dividend of $0.12 per share. The ex-dividend date was Friday, January 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.05%. Commercial Metals’s dividend payout ratio (DPR) is 88.89%.

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About Commercial Metals

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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