$0.46 Earnings Per Share Expected for Commercial Metals (CMC) This Quarter

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.

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

Earnings History and Estimates for Commercial Metals (NYSE:CMC)

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.


Leave a Reply