Commercial Metals (NYSE:CMC) – Equities researchers at Seaport Global Securities decreased their Q2 2019 earnings per share estimates for shares of Commercial Metals in a report released on Tuesday, October 30th. Seaport Global Securities analyst D. Hernandez now expects that the basic materials company will earn $0.65 per share for the quarter, down from their previous forecast of $0.75. Seaport Global Securities currently has a “Neutral” rating and a $20.00 target price on the stock. Seaport Global Securities also issued estimates for Commercial Metals’ Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $2.03 EPS, Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.59 EPS and FY2020 earnings at $2.21 EPS.
Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Commercial Metals had a net margin of 2.88% and a return on equity of 12.11%.
CMC has been the topic of several other research reports. Deutsche Bank lowered shares of Commercial Metals to a “buy” rating in a report on Tuesday, October 2nd. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the company a “hold” rating in a report on Friday, October 26th. ValuEngine raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a report on Thursday. Citigroup reduced their target price on shares of Commercial Metals from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Goldman Sachs Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and set a $24.00 target price on the stock in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Commercial Metals has an average rating of “Hold” and a consensus target price of $23.75.
Shares of NYSE:CMC opened at $19.69 on Wednesday. The firm has a market capitalization of $2.12 billion, a PE ratio of 13.21 and a beta of 1.32. Commercial Metals has a one year low of $17.26 and a one year high of $26.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.75 and a current ratio of 3.83.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Tuesday, November 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 32.21%.
A number of institutional investors have recently made changes to their positions in CMC. FMR LLC grew its holdings in Commercial Metals by 104.5% in the 2nd quarter. FMR LLC now owns 3,269,044 shares of the basic materials company’s stock worth $69,010,000 after acquiring an additional 1,670,640 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Commercial Metals by 680.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 468,171 shares of the basic materials company’s stock worth $1,030,000 after acquiring an additional 408,175 shares during the last quarter. BlackRock Inc. grew its holdings in Commercial Metals by 3.2% in the 2nd quarter. BlackRock Inc. now owns 12,908,547 shares of the basic materials company’s stock worth $272,500,000 after acquiring an additional 394,482 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Commercial Metals by 9.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 4,244,481 shares of the basic materials company’s stock worth $89,601,000 after acquiring an additional 350,990 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Commercial Metals by 71.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 592,571 shares of the basic materials company’s stock worth $12,511,000 after acquiring an additional 247,342 shares during the last quarter. 89.28% of the stock is currently owned by institutional investors and hedge funds.
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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