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%.
ILLEGAL ACTIVITY WARNING: “Q2 2018 EPS Estimates for Commercial Metals Raised by Analyst (CMC)” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/03/jefferies-group-comments-on-commercial-metals-q2-2018-earnings-cmc.html.
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.
Get a free copy of the Zacks research report on Commercial Metals (CMC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.