Equities research analysts forecast that Commercial Metals (NYSE:CMC) will post $0.46 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Commercial Metals’ earnings. The highest EPS estimate is $0.57 and the lowest is $0.30. Commercial Metals reported earnings of $0.07 per share in the same quarter last year, which would indicate a positive year over year growth rate of 557.1%. The business is expected to report its next quarterly earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Commercial Metals will report full-year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.22 to $1.57. For the next year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $1.45 to $2.86. Zacks’ EPS averages are an average based on a survey of research firms that cover Commercial Metals.
Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, June 21st. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Commercial Metals had a return on equity of 8.65% and a net margin of 1.21%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS.
Several brokerages have commented on CMC. ValuEngine downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Jefferies Financial Group reiterated a “buy” rating on shares of Commercial Metals in a research note on Friday, March 23rd. Macquarie upgraded Commercial Metals from an “underperform” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Thursday, May 17th. Finally, Citigroup increased their target price on Commercial Metals from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, June 12th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.11.
Several hedge funds have recently added to or reduced their stakes in the company. Brasada Capital Management LP bought a new position in Commercial Metals in the 1st quarter worth $1,115,000. Principal Financial Group Inc. raised its holdings in Commercial Metals by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 506,006 shares of the basic materials company’s stock worth $10,353,000 after purchasing an additional 16,952 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Commercial Metals by 48.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 17,197 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 5,600 shares during the period. Highbridge Capital Management LLC raised its holdings in Commercial Metals by 55.5% in the 1st quarter. Highbridge Capital Management LLC now owns 18,120 shares of the basic materials company’s stock worth $370,000 after purchasing an additional 6,469 shares during the period. Finally, Millennium Management LLC raised its holdings in Commercial Metals by 8.7% in the 1st quarter. Millennium Management LLC now owns 1,752,661 shares of the basic materials company’s stock worth $35,859,000 after purchasing an additional 140,385 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.
CMC traded up $0.06 during trading on Thursday, hitting $22.14. 88,346 shares of the company’s stock traded hands, compared to its average volume of 1,247,651. The company has a current ratio of 3.90, a quick ratio of 2.73 and a debt-to-equity ratio of 0.78. Commercial Metals has a 12-month low of $17.05 and a 12-month high of $26.72. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 35.53 and a beta of 1.37.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 19th. Stockholders of record on Thursday, July 5th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, July 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.17%. Commercial Metals’s dividend payout ratio (DPR) is currently 77.42%.
About Commercial Metals
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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