Commercial Metals (NYSE:CMC) – Analysts at Jefferies Group reduced their Q3 2018 earnings per share (EPS) estimates for shares of Commercial Metals in a report released on Friday, April 6th. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings per share of $0.47 for the quarter, down from their previous forecast of $0.49. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Commercial Metals’ FY2019 earnings at $2.05 EPS.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. JPMorgan Chase upgraded Commercial Metals from a “neutral” rating to an “overweight” rating in a research report on Friday, March 9th. Bank of America lowered Commercial Metals from a “buy” rating to a “neutral” rating and raised their price target for the stock from $25.36 to $28.00 in a research report on Wednesday, March 14th. They noted that the move was a valuation call. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Deutsche Bank reduced their price target on Commercial Metals from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 29th. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.44.
CMC opened at $19.50 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.12 and a current ratio of 3.11. Commercial Metals has a 1 year low of $17.05 and a 1 year high of $26.72. The company has a market cap of $2,256.82, a P/E ratio of 31.45, a P/E/G ratio of 0.33 and a beta of 1.34.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 22nd. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Commercial Metals had a return on equity of 8.05% and a net margin of 1.15%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.25 EPS. Commercial Metals’s revenue for the quarter was up 22.3% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Wednesday, April 4th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, April 3rd. Commercial Metals’s dividend payout ratio (DPR) is currently 77.42%.
In other Commercial Metals news, EVP Tracy L. Porter sold 13,601 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the sale, the executive vice president now owns 10 shares in the company, valued at approximately $250.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam R. Hickey sold 20,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.50, for a total value of $510,000.00. Following the completion of the sale, the chief accounting officer now owns 15,632 shares of the company’s stock, valued at approximately $398,616. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,536 shares of company stock valued at $1,541,915. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMC. Strs Ohio lifted its stake in shares of Commercial Metals by 176.5% in the 4th quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 3,000 shares during the period. Cerebellum GP LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at approximately $129,000. Global X Management Co. LLC lifted its stake in shares of Commercial Metals by 75.2% in the 4th quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 3,450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Commercial Metals by 38.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 2,239 shares during the period. Finally, CoreCommodity Management LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at approximately $223,000. Institutional investors and hedge funds own 88.23% of the company’s stock.
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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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